AT A GLANCE
What is business succession planning?
Business succession planning considers who will own, control and run a business when an owner retires, loses capacity or dies. It brings business agreements, personal estate plans and funding questions together; tax relief and insurance suitability require separate checks.
Stepping back from a business can involve much more than handing over the keys. A succession plan considers who will own it, who will run it and how the transition could work financially. It can also prepare for an unexpected absence, helping make important decisions before a difficult moment arrives.
What this can help you explore
- Set out your priorities for retirement, sale or family succession.
- Identify people, documents and decisions needed for continuity.
- Connect business ownership with your wider estate plans.
Things to consider
Wills, ownership agreements and company documents need to work together, with legal and tax input where appropriate.
Business value, available funding and the willingness of successors can change over time.
Your questions, answered.
Early conversations give you more time to clarify wishes, develop successors and understand funding needs. The plan can evolve as the business does.
A will is one part of the picture. The business structure, ownership agreements and practical arrangements for leadership also need to be considered.
Who provides this service?
Estate-planning services are outside FCA regulation. The legal provider, supported jurisdiction and terms must be confirmed before work begins.
Regulatory information