Business Succession
Planning

Your dedicated lawyer will help you through your business succession planning and implementation

Future Planning

Business Succession Planning

What should you consider?

Planning to retire from your business whilst at the same time protecting the reputation and success you have worked hard to build requires considerable preparation. You will need to contemplate who you would want to hand over control of your business to and how you would want to do it.

How can Goughs support you?

The key to a stress free retirement is to plan for the succession of your business early. This gives you plenty of time to adjust the business structure if need be, to recruit others or grow and upskill current staff to eventually take control of your business and to plan for your own exit and retirement.

Don't risk your
family's inheritance

Your local solicitors since 1882

Popular questions
about business succession

Succession planning can involve making a Will to set out who you wish to inherit your assets. For complex families and particularly those with high net-worth, there may be additional steps required. This could be creating trusts or family investment companies to protect your wealth for future generations. It may also include the appointment of professionals to assist in the management of your assets. Succession planning will:

  • Manage family expectations of their inheritance to avoid future disputes
  • Educate the next generation on their future responsibilities and how to manage their large inheritance
  • Minimise inheritance tax
  • Assist you in deciding how to hand over control of your business
  • Allow you to consider the rewards of allocating some of your wealth to charity (find out more of the benefits by clicking here.)
  • Give you the opportunity to plan for unexpected circumstances, such as losing mental capacity

 

The Private Wealth team at Goughs Solicitors, Wiltshire, specialises in advising clients on how best to structure their estates to ensure their wealth is passed down through their family.

A Will may be the most important legal document a high net worth individual can consider and create. A Will sets out how your assets, business, property and finances, will be distributed on your death.

Although, in cases of ultra high net worth estate planning you must have a very clear and comprehensive idea of how you wish your assets to be broken down on your death. A Will is the essential part of the process to ensure this happens. 

Goughs Solicitors can offer advice tailored to you and your family to create a Will that suits your requirements. A vague or confusing will may get contested after your death which will ultimately mean further suffering, and financial burden, on those left behind. 

Digmore Sid

Excellent service

I engaged the services of Goughs Solicitors in Trowbridge, in particular Ailie Peacock, to act on my behalf for the sale of my house. Ailie was always clear with her advice, acted in a timely manor and answered any questions I had almost immediately. She was very proactive in dealing with the other parties involved in a slightly convoluted chain.

Ailie also managed a very late request from our buyers with calm efficiency and the utmost professionalism. The end result was a smooth sale and completion, with remarkably little stress on our part. I would not hesitate from using them again.

2021-02-27

Margaret Wilson

Clear concise advice

Quick response to e-mails or phone calls. Will certainly use again in the near future. Clear concise advice patiently given!

2021-03-09

Mr Ian Liddle

Excellent service

Excellent service as usual.

2021-04-01

Alan

Superb once again.

Superb once again. Goughs provides outstanding service... professional in getting the job done and conducted with grace and care. Thank you Goughs!

2021-04-01

Ashley Stone

Rhianna Cole

The solicitor I dealt with at Goughs, Rhianna Cole, was an absolute star, I cannot fault her in any way at all. She made everything in the situation I was in so easy to understand, and she guided me through an extremely stressful time, with extreme professionalism, yet a very personal and sensitive touch. Can't big them up enough.

HIGHLY RECOMMENDED.

2021-04-01

Matt Saunders

Made first-time buying a (relatively) simple process!

Sophie was very attentive and responsive and understood the need to act quickly in regard to our purchase process. She was diligent with the paperwork and was very easy to talk to and clear at explaining what was required in terms of action from our side and from the seller.

2021-04-08

Testimonials

Georgina Catlin

beneficial and fair to all

I would like to Georgina for your help, advice and professionalism over the last year or so. From a personal viewpoint, your clear and level headed approach certainly helped keep my feet firmly planted on the ground, it's greatly appreciated. I feel that your recommendation regarding Counsel was also spot on and certainly helped secure an outcome that was beneficial and fair to all.

2021-09-03

Eleanor Wood

credit to your company

I think it’s now been close to 3 years Ellie has been working on my behalf in what I imagine even she would say has been an incredibly challenging divorce. Ellie has managed to secure me a fair split of the marital home and most importantly get my ex to take responsibility for a loan that she was refusing to pay her part of, this was a huge victory as far as I am concerned.  Ellie has been professional and calm throughout despite the many frustrations and me finding things incredibly stressful she has always been there the voice of reason. She is absolutely a credit to your company and I will recommend her highly.

2021-08-31

Joanne B

A huge thank you to the team at the Trowbridge branch today. You went above any beyond to help me get documents certified urgently, even though I'm not a client of yours. Friendly, helpful and professional.

Nicolas Bracegirdle

pursuit of excellence.

All were welcoming and pleasant and dealt with my queries instantly. Nadine Cook who handled the conveyancing was absolutely outstanding in her pursuit of excellence. I commend her as one of the best and she has my everlasting thanks

2021-07-19

David Humphries

very friendly welcome

Donna was always available on the phone and was always helpful, a very friendly welcome. I had very regular updates and nothing was too much trouble.

2021-07-19

Ali Joy

excellent service

Since working with Nadine - excellent service, Thank you Nadine, good service as expected.

2021-07-19

Your business succession team

Dawn Moir

Partner (TEP)

Dawn joined in 2003 and became a partner in 2004. Whilst Dawn supports her team with all aspects of estate planning and estate administration, her particular areas of expertise are later life planning & support, and trust creation & administration, including all things tax.

Phillip Bolton

Partner & Head of Private Wealth

Phillip is a Partner and Head of the Private Wealth Team at the firm. His practice encompasses all aspects of private client work, with a particular interest in complex Wills, wealth preservation, tax mitigation, and estate planning.

Why work
with Goughs?

Local since 1882, with an excellent reputation

First-class, effective service

Largest solicitors in Wiltshire

Seven offices throughout the county

Nationally accredited law firm

Recognised by Legal 500 and Chambers & Partners

Related Pages

Your dedicated lawyer will help you plan your tax so your wealth is protected for your loved ones

Your essential guide to estate planning

Make sure to plan for your future and help your family in the best way you can by planning what will happen to everything you own upon your death.

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