Succession Planning

Planning for the future is essential to ensure the continued success of your business and the smooth transfer of your assets.

For expert assistance in succession planning, contact Sanicki Lawyers today. Our dedicated team is here to help you secure your legacy and ensure a smooth transition for your business and loved ones.

Succession planning involves preparing for the transition of your business, assets, and wealth to the next generation or chosen successors. A well-structured succession plan ensures that your wishes are carried out and that your business or estate remains stable and prosperous during and after the transition.

For business owners, succession planning is critical to maintaining the longevity and success of your enterprise. Our services include:

• Identifying Successors: We help you identify and prepare suitable successors within your family, management team, or external candidates, ensuring a smooth leadership transition.
• Business Structure Review: We review your current business structure and advise on any changes needed to facilitate a seamless transition and protect the interests of all parties involved.
• Tax Planning: We provide strategic advice on minimising tax liabilities associated with the transfer of ownership, ensuring that your successors can take over without unnecessary financial burdens.
• Legal Documentation: We draft and implement the necessary legal documents, such as buy-sell agreements, shareholders’ agreements, and powers of attorney, to formalise your succession plan and protect your business interests.

Ensuring the smooth transition of your personal assets and wealth is equally important. Our personal succession planning services include:

• Estate Planning: We assist in creating a comprehensive estate plan that includes wills, testamentary trusts, and powers of attorney, ensuring your assets are distributed according to your wishes.
• Wealth Transfer Strategies: We develop strategies for transferring wealth to the next generation or chosen beneficiaries in a tax-efficient manner, preserving as much of your estate as possible.
• Family Provision and Protection: We ensure that your succession plan addresses potential family provision claims and protects the interests of your beneficiaries.
• Incapacity Planning: We help you plan for the possibility of incapacity by preparing enduring powers of attorney and advanced care directives, ensuring your affairs are managed by trusted individuals.