Planning for family business succession is an important part of managing a business.

Many successful businesses fail when the current owners die because they do not have a succession plan. Other business structures are a source of family unhappiness because no thought has been given to the inevitable transfer of a business between generations.

Succession planning allows you to anticipate and prepare for future events that may adversely affect business management. Preparing a plan requires input not only from the business operator but also from their financial and legal advisers. We can provide legal and tax effective solutions in most of the difficult areas.

The issues arising in business and family succession are often similar to, or the same as, the issues involved in estate planning and business restructuring. Sometimes it is hard to classify a matter as one or the other. For many matters these things are part of the same piece of work. Many issues for city and country clients are the same.

JMA Legal has the expertise to help you and your accountant and/or other financial advisors work through all of the issues that relate to making the decision about your business structure.  Once an outcome is agreed we can set up the structure and all relevant documentation that relate to making the plan work the way you want and need it to.

We are able to assist with all buy sell agreements, whether they arise from death, disability, retirement or otherwise.

For assistance please contact:

• Jim Main
• Brendan Cockerill