Succession Planning
Succession planning for individuals and families
Passing wealth and businesses to the next generation is the key consideration for successful individuals and families. We work with you to create an approach that is uniquely tailored to you. We use our extensive experience to structure your estate to take into account matters such as tax and regulatory issues to best achieve your aims.
Our managing director and solicitor Paul Clark TEP is an experienced solicitor specialising in advising individuals and families on passing assets and wealth to the next generation. We are able to advise on all aspects of estate planning including Inheritance Tax planning, Wills and Powers of Attorney.
We pride ourselves on offering a personalised service and you will be allocated your own solicitor who will guide you through the process from start to finish.
Succession Planning for Business Owners
Our head of personal legal services Paul Clark TEP can advise on succession planning for business owners. We work with you to create your plan to minimise disruption and ensure the continued success of your business.
We are able to advice on personaL aspects of succession planning such as Business Lasting Powers of Attorney, Wills and Inheritance Tax.
We can meet you at home, our office, your office or any other location to suit you. We also offer meetings by online video (such as Teams).
Business powers of attorney
Before you lose the ability to make decisions about your business as a result of an accident or an illness a Lasting Power of Attorney gives you the chance to appoint someone to act on your behalf when you are unable to do so yourself. This can help with business continuity to limit any damage to your business caused by your incapacity.
It is possible to cover business matters and personal finances in the same power of attorney but sometimes business owners may prefer to have separate attorneys managing their personal finances and their business affairs. Separate Powers of Attorneys can be created to cover personal and business matters, and it is critical the correct instructions are included to avoid any conflict.
Wills for business owners
Ensuring your will is up to date is critical in ensuring your business is protected. The type of business can affect what happens when you die, for example a sole trader is treated differently to a limited company.
Inheritance Tax advice for business owners
Some businesses qualify for relief from Inheritance Tax (known as business property relief) but not every business qualifies.
How we can help
We understand the intricacies of estate planning and can guide you through the process, ensuring you and your business are well protected whatever the future holds.
For further information on how estate planning can safeguard your business and family, please contact Paul Clark by email paul.clark@spallclark.co.uk or 01260 769 639.
Recommended guides
Succession Planning, Inheritance Tax, Wills
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What our clients say
‘Paul made us feel at ease all the way through’
‘Nothing was too much trouble’
‘Everything was taken care of’