Moore Barlow invite our rural family business clients to think about the story of their family business. How it started, where it is, and where you see it going.
Why? Because it is a commonly held view that a family business will not survive three generations; one generation creates a business, the next builds on its success, only for the third to spend the wealth and run the business to the ground. We can help you prevent that from happening.
Understanding why family businesses fail
Understanding why the family business often fails after the first or second generation is the first step to giving good advice. To do that, an experienced advisor who listens to your story and understands your goals, and your fears, is key. Our solicitors in the rural team are not only experts in land law, but we also have tax and succession specialists, solicitors that come from farming and equestrian backgrounds, and those who have worked within their own family business.
How we can help you plan for the future
Planning the future of your business is often all too much to think about. Death, lacking capacity, tax, potential family conflict, divorce, trusts, transfer of property, company constitution. Its enough for anyone to want to put their head in the sand. But it is our job to think about those things for you.
What we need from you, to plan for your future, is for you to tell us your story. How did the business begin, the journey to now, who are your family, and what do you want for your future and theirs?
Is the family wealth the most important thing to you? Tax planning? Succession planning? Corporate social responsibility? As lawyers, our job is to help you understand the issues that could arise, and give you the tools to plan for the future, but at the heart of our advice is understanding the reasons why families go into business in the first place and helping you to make those reasons a reality.
Contact our rural legal experts
There is something very special about working with loved ones towards common goals and building and sharing a stable workplace together. Give us a call, send an email, or book an appointment to come in for a chat, and we can give you the tools to preserve your legacy for many generations to come.