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. 

How much does it cost to make a Will?

Pricing for a single Will

Starts from £xxx

Pricing for multiple Wills

Starts from £xxx

Pricing for a joint Will

Starts from £xxx

Philip Fowler

Very professional service

Very professional service - at a difficult time due to Covid 19.

2021-03-08

Jane Weller

Helpful

Helpful, prompt and efficient

2021-03-08

Ms Michelle Fielding

I would definitely recommend Goughs

I definitely would recommend Goughs they were very efficient, very helpful and always informed us of what was happening in the chain.

2021-03-02

Ms Kathleen Lucas

Thank you very much for doing a great job

Thank you very much for doing a great job as always, would recommend you for sure for being so efficient and getting the job done as quick as possible.

2021-03-01

Very helpful

Very helpful. Advice clear with plenty of time for us to consider all the options before making decisions.

2021-02-14

Mr Wood

Very thorough

Very thorough, and we also got forces discount.

2021-02-02

Testimonials

Andy Turner | Managing Director | Princeton Homes

Efficient and extremely knowledgeable

Rebecca is professional, efficient and extremely knowledgeable on all aspects of Construction Law.

2021-03-03

Tom O'Connor | Managing Director | Redcliffe Homes

Highly recommend

Andrew is an experienced, diligent and pragmatic development lawyer.  Highly recommended.

2021-01-12

JS

Very professional and prompt

Rowena is very professional and very prompt response every time I needed something.

2020-11-04

Paul Ealey

An excellent commercial lawyer

Gemma combines sound commercial judgement with a refreshing clarity and approach.  An excellent commercial lawyer.

2020-08-05

Bath Property Awards 2021

Legal & Financial Winner

Goughs prides itself on its first-class service, with growing property marketing reach and increasing areas of expertise. Enquiries also escalated by 20%, a commanding showing this year!

2021-03-20

Amelia Hanratty

Isabel Figueiredo was professional

Needed for Goughs to act quickly with an issue I had . They exceeded my expectations ! Isabel Figueiredo was professional , and swiftly dealt with the matter. Would strongly recommend these Solicitors.

2021-03-04

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.

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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

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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.