Business Succession Planning

At Rix & Kay, we understand that everyone’s circumstances are different

We also understand that Estate and Succession Planning can be difficult at the best of times but particularly when your estate includes a family business that you have built up yourself over the years.

There are usually different family interests to consider. What do you do if one child works in the business and one does not? How can you safeguard the business if your child gets divorced? How can you treat your children equally if you want one to inherit the business but not the other? What tax reliefs are available? How can you plan your exit from the business but retain some control?

Rix & Kay offers a complete service to business clients. We advise on the way in which business interests can be dealt with and we help ensure your company documentation covers all eventualities. Shareholders often assume their shares will pass to the beneficiaries named in their Will, but this can only happen if the company documentation allows the shares to pass in this way.

If you have business interests, your Will cannot be drafted in isolation. Working closely with our colleagues in our Company Commercial department, we offer a full service.

For further information about possible options and the services that we provide in relation to your businesses, please read our Owner Managed Business factsheet.

“Rix & Kay’s core offering involves advising high-net-worth individuals and families on tax, specialist trusts and succession planning matters. The Private Client Team, which spans the Kent and Sussex regions, collaborates with the corporate practice to act for business owners, directors and shareholders. Team leader Bruce Clarke has wide-ranging private client experience and advises on complex tax and estate planning work, creating and administering trusts, and advising on powers of attorney and mental capacity law. Clients praise Ian Best as an exceptional asset to the practice; he has specialist expertise in will drafting, probate and trust tax compliance work. Member of STEP Max Wright has extensive knowledge of capital tax planning issues, CGT, IHT, trusts and succession planning, as well as cross-border work”.

“Good coverage of specialism for a non-London firm, with some excellent experience among the team and a can do approach to new enquiries”.

Legal 500 results praise Rix & Kay