The shareholders’ agreement: what every co-founder wishes they’d done earlier
Ask any experienced corporate lawyer what document they wish their clients had in place before they needed it, and the
Family businesses
Legal and financial advice to help your family business grow, protect what matters and plan for the future.
110+
years of service
30
experienced partners
200+
advisers and growing
Supporting family businesses to grow, protect and plan for the future
Understanding the challenges facing family businesses
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.
Setting your family business up for long-term success
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.
"There is a depth of knowledge in the team, with a variety of specialist practitioners." Legal 500 2027
Protecting your family wealth and planning for the future
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.
Our key services
The areas our family business advisers and solicitors can help you with include:
You can get support with the wide range of legal and financial matters above, but we also advise on
You can get support with the wide range of legal and financial matters above, but we also advise on
- Recruitment of senior hires and challenges associated with getting it right
- Cybersecurity
- Philanthropy and charitable giving
- Board composition and diversity
- Values and culture
- Impact of economic uncertainty on long-term decision making
- Strategic planning
- Valuing a family business and grooming a family business for sale
- Next generation engagement and onboarding
Bringing legal and financial decisions together for family businesses
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.
Get in touch today, we’re here to help
Our clients range from established family-owned businesses to smaller family-run enterprises. We understand the unique challenges of running a family business, balancing commercial objectives and day-to-day operations with family relationships, personal interests and long-term succession planning.
We have offices across Cambridgeshire, Essex and Hertfordshire, but we can help you wherever you are in England and Wales.
Get in touch
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Mon–Fri: 9:00am – 5:30pm
Tees Law does not provide Legal Aid. You can find more information here about Legal Aid and eligibility requirements.
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What our clients say
★★★★★
“They are so professional and everything is done incredibly quickly. They always explain things in a manner that the normal person can understand and give advice to help make the right decision while giving you all the options.”
Legal 500 2027
★★★★★
“The team at Tees is fantastic: knowledgeable, technically skilled, commercially astute, and always goes the extra mile for their clients. They know how to prepare a case and provide commercial and legal advice that is exceptional.”
Legal 500 2027
Firm wide quote
★★★★★
“The standout partners for us are Lucy Folley, who handles the bulk of our commercial business, and Robert Whitaker, who efficiently handles employer-side HR legal problems with commercial wisdom.”
Legal 500 2027
Corporate and commercial
Family Business United
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.
Strategic connections that support your business
We work closely with the Hertfordshire Chamber of Commerce to stay connected to the businesses, challenges and opportunities shaping the local market. This allows us to provide advice that is practical, current and commercially focused. As members of the Chamber’s Diamond Club, Tees has access to a high-level network of decision-makers across the region.
Our involvement gives you more than legal advice. It connects you to insight and opportunity. We use these networks to:
- Keep ahead of changes affecting your sector
- Introduce you to trusted contacts and potential partners
- Support your growth with informed, real-world advice
- Help you navigate opportunities with confidence
We stay close to the business community so you benefit from advice that reflects what is happening now, not just what the law says.
Inspiring Hertfordshire Awards 2026
We are proud to sponsor the Family Business of the Year award, celebrating outstanding family-run businesses.
What the judges are looking for:
- Clear demonstration of core family values
- Challenges faced and how they were overcome
- Key achievements over the past 12 months
- A strong business plan for the next three years
- What makes the business stand out from the crowd
We look forward to celebrating the finalists and winners on the night. Further updates will be shared soon via the Hertfordshire Chamber of Commerce.
Featured insights
12 legal and commercial risks fast-growing businesses ignore until it’s too late
Fast growing businesses move quickly. They hire new staff, win new sales, build new products, buy other businesses and grow
Share sale vs asset sale: key legal considerations when selling or acquiring a business
Deciding to sell a business built up over the years might be a difficult decision for a seller to make.
Case law update: Directors’ Duty to think and act in Good Faith
The Supreme Court has, for the first time, confirmed the test for determining whether a director has breached their duty
Family Businesses FAQs
What legal issues commonly affect owner managed and family businesses?
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.
Why is succession planning important for family businesses?
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.
When should a family business put formal agreements in place?
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.
How can family businesses protect personal and business wealth?
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.
What challenges arise when employing family members in a business?
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.
Do owner managed businesses need both legal and financial advice?
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.
What support is available when selling or exiting a family business?
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.
How can disputes within family businesses be avoided?
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.
Do you support family owned businesses in Essex, Cambridgeshire and Hertfordshire?
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.
