Succession Planning
Succession planning will help you to ensure that the wealth you have amassed during your lifetime is passed onto future generations in the way you would wish.
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Planning for the future in this way will help you decide whether to create family trusts, instruct professionals to help you invest or help you to provide for charitable causes. Where family businesses are concerned, planning can help you ensure there is a seamless handover to the younger generation.
Succession Planning for Families
When it comes to wealth, family structures can sometimes be complicated, for example we are living longer, sometimes with multiple careers or multiple or international aspects to marriages. Your family is unique and our team is there to support you and bring a sympathetic and unbiased perspective to what can sometimes appear to be extremely complex or sensitive issues.
Succession Planning for your Business
For many family run businesses, succession planning is key to ensuring consistency and continuity. Having a well-thought out succession plan will ensure a seamless transition to the younger generation, with plenty of time for the appointed successor or successors to become familiar with their new role. Having a well-thought out and transparent plan for the future will ensure confidence from existing employees, investors and other stakeholders.
Business Lasting Powers of Attorney
Succession planning in business is a strategy for passing on senior leadership roles (or ownership of the business) to a family member, an employee or management group within the business. The main aim in any succession planning is to ensure continuity of service to your customers or clients and to have a clear path forward for investors and other stakeholders. A Business Power of Attorney will allow you to identify which of your senior management team you would like to nominate to take the helm and make relevant business decisions if you find you are incapacitated for any reason. Our team will be able to help you through the planning stage and advise on implementation and communication of your decisions.
How we work with you
Whilst based in the South of England, Paris Smith acts for businesses and families throughout the UK. Technology has enabled us to provide a high level of service to our clients whether they are local to our offices or not. Our advice can be given in many ways:
- Over the telephone
- Via video conferencing
- In face to face meetings
We will talk through how you would like to be contacted and the best ways for us to meet in our early conversations with you.
Get in touch to speak with an expert.
Introducing your key contacts
William Hadley
Partner – Head of Tax & Estate Planning
Vicky Day
Partner – Wills, Trusts & Estates
Succession Planning Services
How we’ve helped our clients
Chambers and Partners Legal Directory 2024
The Succession Planning team are ranked in both the Chambers UK Legal Directory and The Chambers High Net Worth 2022 editions.
The Chambers UK Legal Directory states: The lawyers at Paris Smith advise wealthy clients on a range of succession planning techniques including estate planning and trusts. The team also advises on tax planning.
Several sources praise the firm’s client service. One interviewee says: “They are very professional, the service feels very tailored and personal to clients.” Another source notes: “They are knowledgeable and responsive to client needs.”
The Chambers High Net Worth edition states: Paris Smith has a considerable team of private client lawyers able to assist with wills, estate planning and tax matters. The team can also advise on contentious estate matters.
Strengths
One source says “Paris Smith has a compassionate demeanour, and its support provided us with much-needed reassurance;” while another states “Paris Smith was very professional and efficient. Everything was very clearly explained by the very efficient and helpful team.”
Legal 500 Directory – 2025 Edition
With offices in Southampton and Winchester, Paris Smith LLP has extensive experience catering to private clients both in the UK as well as internationally. The team focuses its advice on ensuring the preservation of wealth, which includes handling succession planning issues, assisting with complex will drafting matters, and providing guidance on how to maximise tax efficiency. Leading the team, William Hadley is recommended for clients domiciled in the UK requiring advice on foreign assets. Kate Marsh joined the team from Moore Barlow in July 2023; she has experience handling a variety of complex estate administration matters.
What clients say:
‘Everyone in the practice is extremely knowledgeable, professional, efficient, and helpful.’
‘William Hadley is very knowledgeable. He is always very clear and helpful. He answers queries efficiently and gets things done.’
‘The team, which is headed by William Hadley, is responsive and sensitive to the needs of the client. They are keen to establish creative solutions to complex issues.’
‘William Hadley listens to the needs of his clients and takes time to consider the most appropriate way forward.’
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