We work closely with clients to ensure that we fully understand their aims and objectives
Many of our clients are family owned businesses, typically set up by the parents or grandparents of current management. The aims of a family business are often very different to other companies; to provide a good living for all members of the family, and for the business to be passed on intact to future generations.
Holding such a business together presents challenges; such as how to choose which child might come into the management of the business and when, how to treat fairly those children that do their own thing, and how to resolve disagreements between family members.
Passing the company onto the next generation can highlight further issues, such as how to minimise tax whilst extracting the value you need for retirement, and how to pass value on without giving up control until you are sure that the next generation is ready.
None of that is new to us; our specialist lawyers have advised on these issues for many years.