Income protection: Safeguarding your financial future
What happens if I can’t work because of illness? Many people assume it won’t happen to them. But the reality
We don’t just look after you, we look out for you. That means we bring you insights, advice and keep you up to date on all kinds of legal matters so you can keep ahead.
We match a member of the team with the right expertise to every client, who will invest time getting to know you, who will look after your interests and ensure you have access to the whole firm when you need it.
The legal and financial matters might be complex, but we aim to keep things straightforward and explain everything in terms that are relevant to you.
Family businesses face challenges that go beyond day-to-day operations. You may be managing both commercial decisions and family relationships at the same time. Without clear planning, issues around control, succession and tax can create pressure within both the business and the family.
We take pride in the strong, long-lasting relationships we have built with our clients, many of whom have been with us through generations. Our team is here to offer support and guidance at every stage of your business’s journey, from foundation to maturity. (See our guide to The Life Cycle of a Family Business.)
Whether you are starting a family business or planning your next phase of growth, clarity is key to long-term success. Establishing the correct legal structures early on will protect family relationships, provide stability and support growth.
Defining roles, responsibilities and rewards helps avoid misunderstandings and sets clear expectations on both sides. Formal agreements around ownership and future succession can reduce the risk of disputes as the business evolves.
As your owner managed business grows, you may find that personal and business finances become more closely linked. Succession planning, wills, lasting powers of attorney and business protection all play a vital role in safeguarding family wealth. Planning ahead helps you avoid rushed decisions and protects both your financial position and your family’s future.
Many key decisions, such as succession, sale or retirement, involve both legal and financial considerations. By having these disciplines aligned, it can help you make more confident decisions and avoid unnecessary complexity, manage risk and plan confidently for the future. You can access both legal and financial guidance in one place, so your plans are joined up and focused on long-term outcomes.
As well as being a full-service top-tier Legal 500 firm, we have an in-house team of experienced independent financial advisers who can help with all aspects of investment and wealth planning. They can help you maximise profits from your business disposal, look at all pension issues, and help you invest for the security of your future.
The team at Tees have the diversity in knowledge that enable them to understand their clients needs. They operate with transparency and fairness.
You can get support with a wide range of legal and financial matters, including:
Please complete this form and one of our team will be in touch with you shortly.
We are proud to be members of Family Business United, a leading champion of family firms across the UK. This membership strengthens our connection to the family business community, ensuring we stay at the forefront of the challenges and opportunities these businesses face. It enables us to provide our clients with timely insights, practical guidance, and access to the latest research, thought leadership, and campaigns that matter to family-owned enterprises. By being actively involved, we can better support your business, helping you navigate succession, governance, and growth with confidence and clarity.
What happens if I can’t work because of illness? Many people assume it won’t happen to them. But the reality
From 6 April 2026, the rules for Business Property Relief (BPR) will change. For many business owners this could alter
Owning a horse with someone else can be a wonderful experience, but without a clear, written agreement, even the best
The UK Supreme Court has recently handed down its judgment in a thread of cases which have gained a lot
–
–
–
–
Owner managed and family businesses often face issues around unclear ownership structures, informal agreements, succession planning, employment of family members, and tax efficiency. These challenges can intensify as the business grows or when personal relationships overlap with commercial decision-making.
Succession planning helps ensure the long-term stability of the business while protecting family relationships and wealth. Without a clear plan, businesses can face disputes, tax inefficiencies, or forced decisions following retirement, illness or death of a key individual.
Ideally, legal agreements should be put in place at the earliest stage possible. Shareholder agreements, partnership agreements and documented ownership arrangements help avoid misunderstandings, clarify expectations and reduce the risk of disputes later on.
Protecting wealth often involves a combination of business structuring, tax planning, wills, trusts, lasting powers of attorney and appropriate insurance. Taking advice early can help ensure assets are protected and passed on efficiently to the next generation.
Employing family members can create complications around roles, remuneration, performance management and exit arrangements. Clear employment contracts and policies help maintain professionalism and reduce the risk of conflict or legal claims.
Many key decisions, such as succession, sale, retirement planning or business protection, have both legal and financial implications. Joined-up advice helps ensure decisions are consistent, tax efficient and aligned with long-term personal and business goals.
Exiting a family or owner managed business requires careful planning around valuation, tax, succession, and future income. Early advice can help maximise value, manage risk and ensure the exit supports both the business and the wider family.
Many disputes arise from unclear expectations or undocumented arrangements. Open communication, clear legal structures and regular reviews of agreements can help prevent issues escalating and protect both the business and family relationships.
Absolutely. Tees Law provides expert legal advice to family owned businesses across Essex, Cambridgeshire, and Hertfordshire, including affluent areas such as Chelmsford, Brentwood, Epping, and Saffron Walden in Essex; Cambridge, Newmarket, and Melbourn in Cambridgeshire; and St Albans, Harpenden, and Berkhamsted in Hertfordshire. Our solicitors understand the local context and can offer personalised, tailored support for clients in high-net-worth and complex cases.
