Estate planning is a difficult subject for many families, often laden with emotional challenges and issues of communication. Such issues are only magnified when it comes to the planning succession of a family business.
Spencer West Private Client Partner Sangeeta Rabadia’s article in this month’s The Lawyer Monthly focuses on succession planning for families with businesses and answers several questions on the matter.
Sangeeta states that “early preparation and having a suit of good governing documents are key” in succession planning. Furthermore, she states that the “key is to recognise the need for effective planning” however “each family and each business is different and no one structure or strategy is going to work for everyone”
To read more of Sangeeta’s thoughts, plus hear about tips on how families with businesses can plan for succession, read the full article here