Employee ownership trusts: the best law firm succession solution you’ve never heard of?

Date
15/01/2024

Topics
Employee Ownership Employee Ownership Trust Law Firm

If you are looking for a succession solution for your law firm that:

  • Enables you and your partners to realise the practice’s value in a way that’s tax free,
  • Rewards everyone who adds value,
  • Helps increase employee productivity and engagement,
  • Helps create a strong platform for further growth,
  • And does not require personal investment by new partners.

You should consider an employee ownership trust (EOT).

Information includes:

  • How to plan for succession through an EOT
  • The key practical, legal and tax rules
  • SRA requirements
  • A real-life case study

In February 2024 we did a webinar on EOTs for Law firms, you can watch the recording below.

Business succession through an EOT is the fastest growing business model in the UK, to date adopted by 1700+ companies, including a growing number of law firms. Independent research shows that employee-owned companies outperform their peers in a number of ways.

With traditional law firm succession routes often harder to achieve then before, if you are an owner/partner in a law firm looking at how you can pass your practice on, watch the webinar above and download our guide, where you will find out the steps involved in how a law firm can become employee-owned.

#lawfirms #legal #successionplanning #eot #law #familybusiness #eo #employeeownership #businessmodel #succession #retirement

The EOT Guide for Law Firms
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