05 Feb 2026
By Lesley McKnight, Partner, Private Client, Gilson Gray
Identifying and preparing the next generation of leaders is a central pillar of succession planning. This process requires foresight, objectivity, and a clear understanding of the skills, commitment, and vision necessary for the long‑term success of the business.
Many UK family businesses face difficulties balancing talent, fairness, and family expectations. Conversations about future leadership can be sensitive and without a structured approach misunderstandings can arise. Preparing successors involves evaluating capabilities, offering targeted development opportunities, and ensuring the business is not overly dependent on the outgoing leader.
Developing future leaders
A strong leadership development strategy may include external work experience, formal qualifications, mentoring, or staged integration into management roles. Clear role descriptions and performance criteria help reinforce transparency and fairness.
Gilson Gray supports clients by embedding these strategies within legally sound governance frameworks. We draft policies and agreements that formalise succession criteria, provide clarity around roles and responsibilities, and protect the business should circumstances change. Where required, we help families create communication protocols or dispute‑resolution mechanisms to support constructive dialogue.
We also offer strategic guidance on employment law issues, remuneration structures, and transitioning senior leadership responsibilities. With a holistic, people‑focused approach, Gilson Gray can support to ensure the next generation is prepared both legally and strategically.
Private Client support for the next generation
Private client lawyers play a vital role in supporting succession planning by advising on personal and estate matters linked to the business. They help structure ownership, trusts, and wills to ensure smooth transfer of shares, prevent disputes, and align family interests with the business’s long-term goals. Their expertise ensures personal arrangements are compatible with corporate succession strategies.
Our private client lawyers and wealth management teams also provide advice on tax-efficient wealth and asset transfers, including inheritance tax and capital gains tax planning. By coordinating with corporate and tax advisers, they help families protect both business value and personal wealth, ensuring a financially sustainable transition. Their guidance safeguards family relationships and the continuity of the business.
With the right support, preparing future leaders can be a collaborative and forward‑looking process – strengthening resilience and ensuring continuity for generations to come.
Find out more about our family business services here.
