Succession Planning, Exit Strategies and Shareholder Protection Solicitors in London, Birmingham and Northampton

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A carefully crafted succession plan ensures the future of your business even once you’ve moved on. It may be hard to imagine what the organisation you have built from the ground up will look like years from now so it’s important to get legal advice to avoid failure.

With over a century of combined experience, our commercial law solicitors in London, Birmingham and Northampton have the experience and practical knowledge to point you in the right direction. Whether you want to sell your business in the future or you want to appoint your successor as the head of the company, taking the necessary steps to legalise your vision is crucial.

When you work with Witan Solicitors, you can expect to receive consistent expert support and actional advice delivered in jargon-free language so you can make informed decisions with clarity and confidence.

To get practical legal advice regarding succession planning,  exit strategies and shareholder protection, contact our commercial law solicitors in London, Birmingham and Northampton via email at info@witansolicitors.co.uk and schedule your free, initial consultation today. 

Building Your Succession Plan

Succession planning is a complex process where there are no one-size-fits-all solutions. Spending on your goals, your exit strategy may include selling the business, reorganisation and reconstruction of the company, or partial buy-outs of some shareholders (where multiple ownership is involved). 

At Witan Solicitors, we pride ourselves on our commercially-minded approach, offering bespoke succession planning services designed to create an exit strategy that works specifically for you, your business and your shareholders. As part of the planning process, we will take a detailed approach including the following considerations:

• Understand the goals of your current partners and whether they plan to retire or reduce their involvement in the business in the foreseeable future
• Analyse how the business would handle an unexpected exit by one of the main shareholders or the owner 
• Plan for the financial and structural ramifications of the exit of a partner 
• Plan for the impact that the exit of a partner could have on the clients of the business 
• Detail the organisation’s expectations and requirements for future partners in the business
• Explore finance options if you need to buy additional equity in the business 
• Review and amend (if needed) the existing Shareholders Agreement to offer security to both current and future shareholders

Tax Advice and Planning

As part of our succession and exit planning service, our commercial law solicitors offer detailed tax advice and planning. Thinking about tax implications early on helps build the organisational and legal structures to protect your assets from tax as much as possible.

Shareholder Protection 

When a central figure in a business suddenly falls critically ill or passes away unexpectedly, this can shake the entire organisation to its core and potentially lead to complete failure if you don’t have a strategy in place to handle such situations. 

One protective layer you can add is taking out a keyman insurance also known as shareholder protection. This type of protection secures cover for the trading losses caused by the unfortunate event, as well as the recruitment costs for finding a replacement for the key person. 

We can advise you on the documentation involved in taking out shareholder protection from a life assurance company and whether that is a suitable solution for your business or not. 

Why Choose Witan Solicitors?

• 100+ Years of Combined Experience: Our experts have in-depth knowledge of commercial law built over more than a century of combined experience
• Established in 2014: We have been successfully developing our commercial law portfolio since 2014
• Legal 500 Recognised: Our Solicitors have been recognised in the Legal 500
• Industry Experts: Our team is invested in self-improvement and we are always in touch with the latest developments in our area of expertise
• Multilingual Support: Our solicitors are fluent in more than ten languages, offering legal support to UK and international clients
• Commercial law experts near you: Our commercial law solicitors offer advice from three central locations – Birmingham, London and Northampton

To find out how we work first-hand, benefit from our initial, no-obligation consultation free of charge. During this meeting, we will have the opportunity to learn more about the details of your case and offer an estimate of what we could do for you. If you are not ready to start working with us after our initial talk you don’t have to and you don’t owe us anything. Book yours today.