Family businesses

Our specialist solicitors are aware that your family business doesn’t exist in isolation from your wider personal, commercial and legal concerns. We offer expert advice relating to buying and selling businesses or companies, company governance, wealth protection, generational planning, trusts and estate planning. Particularly relevant issues for family businesses include the transfer of shares and protecting the business from external ‘threats’ such as death, bankruptcy or ending relationships of significant shareholders. Well drafted shareholder, partnership and joint venture agreements that are consistent with the terms of a will and instructions given to executors all contribute to prevent disputes in the future.

Understanding your family business and how it operates is a fundamental part of our service

We can help with:

• Family ownership structures—Shareholders’ agreements and articles of association to regulate management and ownership arrangements within family businesses (including family investment companies).
• Succession Planning—The preparation of wills, lifetime giving and how the management can be transitioned to the next generation, particularly where the business represents the most significant family asset and not all family members are actively involved.
• Tax Planning—Advice on structuring interests in family businesses and their passing down through the generations to mitigate capital gains tax and inheritance tax.
• Employee Incentives—We advise on strategies and mechanisms to effectively incentivise employees without materially prejudicing the family position.
• Administration of estates—Advising personal representatives and/or beneficiaries with the administration of an estate where the deceased held a stake in a family business.
• Buying and selling family businesses
• Family business disputes—We advise on all types of contentious matters in relation to family businesses. We have particular expertise in dealing with disputes following the death of family members where succession or tax issues may arise, or where claims against an estate may affect a family business.

At Russell-Cooke, we have a deep understanding of the importance of ensuring a smooth transition for multi-generational family businesses with effective family governance and a recognition of the potential ‘threats’.

We offer practical and strategic advice to meet your commercial objectives, including international expertise. We’re also able to call upon a great breadth of experience from our Corporate & commercial, Private client, Real estate, Family and Trusts, wills and estates disputes teams among others all pulled together by our highly reputable Family Office service.

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