Family Business Solicitors

At BBS Law, our family business solicitors specialise in providing clear, strategic advice to support family-run businesses in the UK through every phase of growth and transition.

With expertise in family law, corporate law, employment law, and dispute resolution, we offer a comprehensive approach to managing and safeguarding your business interests and family relationships.

Legal Challenges of Family Businesses

Simply put, family businesses often face an added layer of complexity due to the combination of personal relationships and business obligations.

Issues like succession planning, governance, employment policies, and potential disputes require a proactive and tailored approach.

Family business solicitors like ours at BBS Law work closely with you to anticipate these challenges and help structure your business to stabilise both family relationships and commercial success.

We draw from extensive experience advising family businesses of all sizes across multiple sectors, delivering solutions that protect your business now and into the future.

Legal Implementations Necessary for Family Business Success

There are particular areas of family business that require some extra care.

From legal structures in terms of hierarchy to succession plans, a clear structure will contribute to an all round improvement in the future of the family business. So what can legal help do in terms of planning and implementations for your family business?

Family Business Structure & Governance

Establishing a clear legal structure is the foundation of a successful family business. Not all but many family businesses in the UK start informally, with family members contributing as needed, but as businesses grow, so does the necessity for formal structures.

Our solicitors can guide you in building the right legal structure for your business, whether that’s a partnership, limited company, or family limited partnership (FLP). We’ll ensure that all parties have a well-defined understanding of their roles, responsibilities, and entitlements.

Governance is also key to avoiding conflict. Our team at BBS Law will help you develop comprehensive governance agreements that reflect your business’s values and create clear operational guidelines.

We can help draft shareholders’ agreements, articles of association, and partnership deeds to ensure that everyone involved understands their rights and responsibilities.

Succession Legality

Effective succession planning is essential to preserving both the business and family legacy. Passing down control or ownership to the next generation can be challenging, and without a clear succession plan, family business disputes may arise that jeopardise the business’s future and relationships.

Our family business solicitors assist clients in creating succession plans that work to provide clarity and support the long-term viability of the business. From structuring share transfers to crafting wills and trusts, we work with you to ensure a smooth transition to the future generation of your business.

We offer comprehensive guidance on inheritance planning, business property relief, and trusts to ensure a seamless transfer.

Employment & Family Involvement

Balancing family relationships with professional obligations can be challenging when family members work together.

Questions surrounding nepotism, fair compensation, performance, and promotion can arise and, if not handled properly, may lead to tension; this can be both on the business front, and the relationship side of things.

Our team of family business solicitors at BBS Law advises on employment law aspects specific to family businesses, including policies for family and non-family employees alike. We help you draft fair employment contracts and establish HR policies that support a harmonious workplace while maintaining professional standards.

Family Businesses Dispute resolution

Family businesses are vulnerable to disputes, whether due to differing opinions on management, generational conflicts, or unresolved personal issues. When disputes arise, it’s crucial to address them swiftly to protect the business and the family.

Our family business dispute lawyers are experienced in assisting in resolving conflicts through negotiation, mediation, and, if necessary, litigation. We work sensitively to ensure that relationships are preserved wherever possible, while protecting the business’s best interests.

Dispute resolution often involves issues surrounding ownership, management, and authority. For example, in situations where multiple family members hold shares, disputes may emerge about the future direction of the business.

The good news is, our skilled family business dispute lawyers can help you develop proactive agreements that set out procedures for handling disputes before they arise.

The Impact of Divorce on Family Business

The potential impact of divorce on a family business can be significant, particularly where ownership interests are concerned.

When a family member going through a divorce holds a stake in the business, there is often a risk that the divorcing spouse may seek a share of the business assets as part of the financial settlement.

This can lead to disputes over valuation, division of assets, and control, potentially destabilising current business operations and impacting other family members involved. In these situations, the court may be required to assess the business’s value, which can be both time-consuming and costly.

Our experienced solicitors work with clients to mitigate these risks by implementing proactive measures that help safeguard the family business from potential claims.

To address this challenge, we often recommend pre- and post-nuptial agreements specifically tailored to the family business context. These agreements can help protect ownership interests by specifying how business assets should be treated in the event of a divorce.

Our team ensures these protective measures align with both family and business objectives, minimising disruption and safeguarding continuity.

Why Choose Our Family Business Solicitors

At BBS Law, we offer a holistic approach to family business advisory services. We understand that each family business is unique and requires a tailored legal approach. For that reason, our family business solicitors provide insight and guidance informed by extensive experience with businesses at all stages of growth.

Working in collaboration with our corporate, family, and litigation teams, we provide comprehensive advice that covers every aspect of family business operations.

We know that maintaining family relationships and business stability is paramount, and we are committed to offering solutions that respect both. Our proactive and sensitive approach is designed to help your business thrive for generations to come.

For more information on our services, contact our family business solicitors today. We can support you in creating a foundation for your family business, ensuring its success and continuity for generations to come.

{
“@context”: “https://schema.org”,
“@type”: “FAQPage”,
“mainEntity”: [{
“@type”: “Question”,
“name”: “What are family Business agreements? (AKA. FBA)”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Creating a Family Business Agreement (FBA), also known as a family constitution or family charter, is an effective way to formalise your business’s vision, values, and protocols.

This document outlines the family’s approach to governance, succession, conflict resolution, and business goals. While it is not legally binding, an FBA can offer guidance that promotes open communication and sets clear expectations.”
}
},{
“@type”: “Question”,
“name”: “What are the risks to a family business if there are no formal agreements in place before a family divorce?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “If a family business lacks formal agreements like shareholder agreements, family constitutions, or pre-nuptial agreements, it may be vulnerable during a family divorce. Without clear documentation, the courts may have to assess and divide business assets based solely on ownership and financial contributions, which could result in unanticipated claims or even the forced sale of shares to satisfy settlement terms.”
}
},{
“@type”: “Question”,
“name”: “What is a family limited partnership?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “A Family Limited Partnership (FLP) is a legal structure used by family businesses to manage assets and provide estate planning benefits. In an FLP, family members are either general partners, who manage the business, or limited partners, who contribute capital but have limited control. This structure offers advantages such as asset protection, tax savings, and smoother generational transitions by allowing senior members to transfer ownership stakes at discount.”
}
}]
}

Family Business Solicitors

Request a call back

Legal Challenges of Family Businesses

Legal Implementations Necessary for Family Business Success

Family Business Structure & Governance

Succession Legality

Employment & Family Involvement

Family Businesses Dispute resolution

The Impact of Divorce on Family Business

Why Choose Our Family Business Solicitors

Family Partner

Frequently Asked Questions

What are Family Business Agreements? (AKA. FBA)

What are the risks to a family business if there are no formal agreements in place before a family divorce?

What is a Family Limited Partnership?

Our Family Partner

For proactive, bespoke, commercial solutions, contact us to discuss your needs.

Request a call back

BBS Law Client

Family News

Deciding on Children Arrangements During Annual Holidays

Do I Have To Go To Mediation?

How Are Pensions Split in a Divorce: A Comprehensive Guide for 2024

Navigating the Children Act: Ensuring the Best Interests of Your Child

Full and Frank Disclosure: Everything to Know + What Is Form E?

The Evolution and Importance of Prenuptial Agreements

Family Case Studies

Urgent Application for a Prohibited Steps Order

Family Partner