Over Half of Property Tycoons Have no Succession Plan in Place

A recent survey found that over half of property tycoons have no succession plan in place, adding difficulty to the future leaders of their business.

A total of 52% of professional landlords with large portfolios had nothing in place to consider the next generation and the very direction of their business interests.

The emerging trend was highlighted in Handelsbanken’s SME Landlord Survey Report 2022, which showed 23% of respondents simply hadn’t thought about the option of creating a tangible succession plan, with 15% saying it wasn’t a priority and a further 15% saying the process was too complicated.

Of those that had a clear plan in place, over a third (35%) planned to include a family trust as they consider how best to provide for those they care about after their death. 

Why should you consider succession planning?

If you’re a person with multiple properties as part of your estate, it is important to consider what happens after your death.

After all, you’ve worked hard during your lifetime to accrue and manage these properties, with their value potentially sizeable, so it is only right that you provide a clear path forward to ensure that hard work is maximised for those you wish to benefit from it. 

Don’t leave this to chance, don’t allow for avoidable confusion and tension around the estate. Create a clear succession plan unique to your circumstances with the help and guidance of the expert professionals at Winn Solicitors.

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 Why use Winn Solicitors?

At Winns, we have an experienced, dedicated, and diligent Wills, Probate and Trust department that approaches their work with compassion and a desire to deliver the express wishes of the client based on their unique scenario.

The team is led by Rebecca Harbron Gray, who has more than 15 years in the sector providing invaluable guidance on a range of matters involving succession planning and the best way forward for her clients. 

Ably assisted by Nicola, Josef, and Georgia, they make up a team that has helped clients with expert advice, appropriate guidance, and an efficiency that makes the process as easy as possible for those going through it. 

If you want the support of a dedicated team of advisors, contact Winn Solicitors today for a no-obligation discussion about your circumstances and see how we can help you.

For more on our service, click here to be taken to our dedicated information page. Don’t leave the future to chance.

Act today for a more assured tomorrow.

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