Posted on 12.2.14
Stockport law firm Gorvins Solicitors is aiming to put wills and succession planning on boardroom agendas by running a seminar to give business owners an opportunity to discuss this crucial and somewhat overlooked subject.
Partnered by Marketing Stockport, the Business of Wills seminar, on Wednesday 12th March, follows on from a successful round table event with Greater Manchester Business Week, in which business owners and professional advisers talked about the sensitivities around discussing succession planning in board meetings and some of the complexities involved.
Christine Thornley, Partner and Joint Head in the Wills, Trust and Probate team at Gorvins, said: “With so many family firms in the North West, it is important for business owners to think about their future by making succession planning a serious part of their agenda.
“Our last round table brought to light some interesting themes. While some businesses don’t think to cover all eventualities, others had concerns about discussing such a sensitive subject with family members.”
From a commercial aspect, Christian Mancier, Partner in Gorvins’ Corporate-Commercial team and immediate past Stockport President of the Greater Manchester Chamber of Commerce said “many small to medium sized business owners often think their affairs are in order should they unexpectedly pass away, however, sadly more often than not, this is not the case.
“The implications of poor succession planning can be detrimental, not only to the business, but any other joint business owners, shareholders, employees and, of course, families. It’s time for businesses to proactively plan for the future and ensure they are not left in unresolvable or difficult situations.”
Daniel Turner of William Turner and Sons, who attended the firms previous round table event, said: “These can be very difficult conversations you don’t want to have with your father, brother, mother or whoever. You don’t want to talk about death. Talking through the issue of succession planning with other business owners in a similar position was a very useful experience and it gave me a new perspective on some of the decisions that need to be made.”
The session will be held at Gorvins offices in Tiviot Dale in Stockport on Wednesday 12th March at 8-9.30am.