Like estate planning, it is vital that individuals have business succession plans in place.
Business succession planning addresses the various steps that an individual takes to deal with or protect their business assets should they wish to retire, if they become disabled or upon their death.
The need for business succession planning will often be evidence in circumstances where there is an involuntary departure of a business owner because of death, disability or a health crisis or alternatively where there is retirement.
The likelihood of successful transition increases significantly if a properly funded business succession agreement ("buy sell agreement") is put in place ahead of time.
We can provide advice to business owners and prepare the documentation to give effect to all of your business succession planning strategies.
Contact us on 08 8523 8400 for a no obligation consultation with one of our lawyers or email us at firstname.lastname@example.org.