Business Succession Planning
We specialise in giving you a true picture of where you are today so we can help you work towards meeting your financial objectives in the future.
The directors of a company are often the major shareholders and make all the key decisions for the firm. A successful business depends on the close cooperation and experience of the directors. The death and/or serious illness of one of the directors can have a serious impact on both the surviving directors and the deceased’s successor(s).
The remaining directors may be faced with a new shareholder and director who has little business expertise and contacts. If the deceased director owned more than 50% of the business, disagreements may arise if the deceased’s successor(s) – who would now be the majority shareholder(s) – has different plans for the future of the business.
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Having the correct succession plan in place is a means of solving these problems for both the surviving Directors and the deceased’s successor(s).
Why not talk to one of our lead advisers today to discuss your planning needs?
