Is business succession only about selling the company?
No. It can involve family succession, management continuity, ownership transfer or exit planning. The right pathway depends on the business and your circumstances.
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Business succession planning addresses what happens to ownership, control and continuity if an owner dies, loses capacity or steps away. It sits at the intersection of company arrangements, shareholder relationships, family expectations and the personal estate plan.
A private business often concentrates both financial value and decision-making power in a small group of people. If one of those people dies or loses capacity, the consequences can be immediate.
Personal estate documents and business governance need to work together. If they do not, ownership, control and family interests can become entangled at the worst time.
An ordinary power of attorney should not be assumed to resolve every company-director or ownership issue. Continuity often requires deliberate business and estate planning together.
No. It can involve family succession, management continuity, ownership transfer or exit planning. The right pathway depends on the business and your circumstances.
Not necessarily. Ownership interests and control rights may be affected by company documents and other arrangements. The position depends on the structure and your circumstances.
It may assist with some matters, but it should not be assumed to resolve every director or governance issue. Company continuity often requires separate planning.
At a high level, it concerns what happens to an owner’s interest if a triggering event occurs, and how remaining owners or successors may acquire or deal with that interest. Suitability depends on the business and parties involved.
Not always. Capacity, interest, fairness between beneficiaries and business continuity all matter. The better approach depends on family and commercial circumstances.
Common points include bringing in new owners, family change, rapid growth, retirement planning or the absence of any current arrangement. Timing depends on your circumstances.
Closely. Personal wishes, ownership interests and control mechanisms need to align. The right combination of documents and arrangements depends on your legal and financial circumstances.
Knowledge Centre
Business Succession
A high-level look at ownership, control and continuity issues when a business owner dies, and why personal and business planning must work together.
Read topicLife Events
A practical guide to the life events and structural changes that often mean an estate plan should be reviewed.
Read topicTestamentary Trusts
A measured overview of when families may consider a testamentary trust, without assuming tax or protection outcomes.
Read topicNext step
If your business and family wealth are connected, succession planning can reduce uncertainty around ownership, control and continuity.