Shacklocks Solicitors
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Preparing for retirement: It’s never too early!

After all those years of hard work you deserve to retire and put your feet up! The motivation behind your retirement might be wanting to spend more time with your family, on the golf course (!) or simply that you believe that you have taken the business as far as you can. It may be time for someone else to take over the reins. Alternatively it might be that ill health has intervened and that you are no longer able to carry on working in the business.

In all of these circumstances retirement may well be the answer. But it is not as simple as that when you own and run a business. You need to prepare for your retirement.

Ensuring that the business ends up in the right hands and that you reap the rewards from the work you have put in and the risks you have taken will only be achieved with proper planning.

Involving Shacklocks at an early stage means we can recommend some steps you can take which will add value to your business and help you maximise your sale price. Whether that involves tying in your key staff, registering your intellectual property, protecting your data, consolidating your customer relationships, or getting your property and pension arrangements onto the right footing.

We see the planning of your exit strategy to be a partnership between us that has a start and a middle but not necessarily an end. We can work with you from the first discussions about retirement through to the preparation of the business for the major change that is about to come. We will help in the sourcing of a buyer for your business and will work with you through the legal process of disposal. As part of this process we will also work with you on the planning of your personal finances through the whole process and will look at the objectives that you are trying to achieve after retirement. It may be for example that your income in retirement is to be funded by the business sale proceeds and that you will therefore need our specialist investment advice on the best choice of investment vehicle to provide you with an income stream in a tax efficient manner.

Having sold your business and started on the new path in life through retirement we will stay with you, keeping an eye on your legal and financial affairs and helping you deal with any further changes that come your way.

In this way we believe that we provide the complete service to the business owners looking to implement their exit strategy.