Our unique combination of financial and legal services...

Our Corporate Legal services:

Succession Planning for Family Businesses

The health and longevity of a family business is dependent on careful nurturing and transition planning. For a family-run business, this can often be the hardest and most critical challenge that the business will ever face.

As difficult as it might be to tackle, it shouldn’t be avoided. Careful succession planning is key to securing the future and continued expansion and profitability of your business, as well as the jobs of those who have loyally worked for the company for many years.

Combining guidance and support from Progeny’s Corporate Legal team, Private Legal team and Wealth Management team, we can create a highly effective future management structure sustaining the growth and profitability of the company and balancing the risk, while keeping faithful to the family’s vision and values.

The areas we can provide expertise in include:

  • Management incentives
  • Training for the next generation – a legal crash course in business law
  • Advising on the balance between leadership and ownership
  • Stakeholder relations
  • Inheritance tax planning and mitigation
  • Family councils and transitioning ownership through the family
  • Trustee ownership
  • In the event of succession issues, we can help with considering the alternatives – sale; external investment to release cash; private equity investment
  • Management Buyouts (MBOs) or Vendor Initiated Management Buyouts (VIMBOs) by utilising the ability of the business to generate cash and for the family to extract that value
  • Wealth transition

Succession planning for a family business is an excellent example of the unique framework of coordinated advice and insight that Progeny offers. Our integrated platform of financial planning, wealth management and legal advisory services was created to meet the needs of individuals, families and businesses. We work hard to understand our clients’ aspirations to give the quality service and bespoke structuring they require to address their complex needs.