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Family Business Succession Plan

R999

Create a family business succession plan covering leadership transition, ownership transfer, family roles, buy-out arrangements, training, governance, death, retirement, disability, and dispute prevention.

A Family Business Succession Plan helps a family plan how a business will continue when the founder, owner, or key manager retires, dies, becomes disabled, exits, or transfers control. It may deal with ownership, management, family employment, training, buy-outs, governance, and estate planning.

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South African legal context (2026 checklist)

A succession plan should align with the business structure, will, trust deed, shareholders agreement, partnership agreement, buy-and-sell arrangement, tax plan, and estate plan. Without alignment, family disputes may arise between heirs, active family members, inactive family members, surviving spouses, and business partners.

  • Companies Act 71 of 2008
  • Trust Property Control Act 57 of 1988
  • Wills Act 7 of 1953
  • Administration of Estates Act 66 of 1965
  • Close Corporations Act 69 of 1984, where applicable
  • Partnership and contract law
  • Income Tax Act 58 of 1962
  • Estate Duty Act 45 of 1955
  • Matrimonial Property Act 88 of 1984

Use this as a starting point only. Verify current gazetted amendments, tribunal rules, and SARS / DOL circulars that may apply to your matter.

Typical questions we'll walk you through

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What is the family business name and structure?
What is the family business name and structure?
Who owns the business?
Who owns the business?
Who currently manages the business?
Who currently manages the business?
Who should take over leadership?
Who should take over leadership?
Will ownership be transferred during life or after death?
Will ownership be transferred during life or after death?
How will family members be treated fairly?
How will family members be treated fairly?
Will shares, partnership interests, trust assets, or member interests be transferred?
Will shares, partnership interests, trust assets, or member interests be transferred?
What happens on death, disability, retirement, or exit?
What happens on death, disability, retirement, or exit?
Will there be a buy-and-sell or funding arrangement?
Will there be a buy-and-sell or funding arrangement?
What governance and dispute rules should apply?
What governance and dispute rules should apply?

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