Having a carefully considered and robust succession plan is key to ensure the ongoing success of your business and your business interests. What will happen to your business and your business interests when you leave or if an unexpected event occurs?
Have you given thought to what you would like to happen to your business and your business assets when you want to sell or retire?
Have you considered what will happen to your business if you or one of your business partners is permanently or temporarily disabled or passes away?
An effective succession plan ensures that any transition in your business is smooth and risk is minimised. Your plan should record (and bind where possible and appropriate) who, when and how your business will be managed and operated moving forward.
At Burke Lawyers our lawyers take the time to get to know you and your business first so that our advice is appropriate and your succession plan reflects your wishes and your goals.
Once in place, it is important that your succession plan is reviewed and updated as things in your business or personal life change.
We act for clients all over Australia and internationally, with assets located both here in Australia and overseas. Principal lawyer and head of our Commercial & Business Division, Meghan Warren is admitted to practice as an Australian legal practitioner and as an Attorney-at-Law to the New York State Bar in the United States.
How can our succession planning legal team help you?
- Shareholders agreements : Review, amendment, draft
- Unit Holders agreements : Review, amendment, draft
- Share and unit sale agreements
- Trigger events: Buy, sell and option agreements
- Key person insurance agreements
- Succession strategies (incl. exit and retirement)
- Review and implementation
- Trusts, business and company advice
- Powers of attorney
- Corporate powers of attorney
- Succession negotiations and agreements with owners