Family Business Succession Planning

Succession: 'the order in which, or the conditions under which one person after another succeeds to a property, title or throne.'

Jenkins Legal and Advisory specialises in family business succession planning. Our senior partner, Micah Jenkins, offers, and relishes the opportunity, to provide a unique and highly successful service in family business succession facilitation, throughout Australasia.  

With 25 years of experience working in Australia and the UK, Micah has dealt with seemingly every kind of family business from: farming; wine; mining; professional services; retail and trade businesses.  

Succession planning can involve: 

 

  1. Business transition to committee family members; 

  2. Estate and succession planning of private assets; 

  3. Divesting of commercial and private assets to third parties either immediately or over time in accordance with a “master plan”.  

Micah is well aware of the difficulties of these situations and guarantees that he can assist anyone to get the best possible outcome in any circumstance and knows how to keep people on the path. Whether you have successors in mind or not, we will help you sort through the challenges; ask the difficult questions (sensitively) and find the appropriate, balanced solution.  

 

Micah is able to provide this service due to having a number of applicable attributes: 

 

  • the rare blend of business law and estate planning specialties (both transactional and dispute resolution); 

  • project management and facilitation skills derived from corporate and board positions and running his own legal practice; and 

  • appropriate personality for sensitive and confidential work.  

 

Micah is happy to work with your existing advisors e.g. your lawyer, accountant and financial planner.  

 

Facilitation can occur face to face or virtually or a hybrid of these options. Every situation is different but the process usually follows a normal project management approach such as: 

  1. Initial fact-finding and brainstorming; 

  2. Circulation of options and recommendations; 

  3. A session to explain and test those options and recommendations; 

  4. Implementation; and  

  5. Review.  

 

This is Micah’s favourite and most rewarding area of expertise because he knows how much satisfaction, purpose and piece of mind it can bring to our clients.

 

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