Wealth and Succession Planning

Introduction of new partners/issuing shares

The same principle applies with companies and the issuing of shares/appointment of Directors. While this can be an effective way of delivering succession planning, it also poses significant risk to the retention of wealth if divorce or personal financial crisis hits. The potential risk of divorce and the perceived lack of necessary experience of certain children  can often lead to delay in introducing the next generation to the ownership of a business, and thereby delaying succession planning (as well as creating resentment and demotivation among those waiting in the wings).

Expanding the ownership of a business can be done in such a manner that minimises the known risks – making the right decision here is based firmly on having all of the options set out in front of you and this just isn’t possible without experienced professional advisors being in play.