Legal Horizons completed a succession project for a Client

The death of a sole proprietor almost always creates an urgent need to secure business continuity, protect jobs, and preserve the value of the business for the heirs. In one of our recent cases, our law firm carried out a multi-stage succession project, the aim of which was not only to maintain the business, but also to reorganize it and adapt it for further joint management by the heirs.

After the entrepreneur's death, it became necessary to:

• establish and maintain a succession management board,

• secure the ongoing operation of the inherited enterprise,

• settle inheritance issues,

• ensure the possibility of continued operation by the heirs,

• and organize the legal and organizational structure of the business.

Due to the scale of the business and the fact that the company also included real estate and administrative decisions (concessions) crucial to its operation, the project required coordinated actions in the areas of inheritance, commercial, administrative, and corporate law.

Legal Horizons' support included extending the succession management before the court and ensuring the continuity of the company's operations in the inheritance, carrying out a partial division of the estate covering the company together with real estate, assisting in the creation of a new sole proprietorship by the heiress and transferring key administrative decisions to her, and then comprehensively carrying out the process of transforming the sole proprietorship into a limited liability company, including registration services.

After the registration of the limited liability company, the law firm's support also covered organizational and corporate activities, including:

• shaping the rules of cooperation between the partners,

• developing the provisions of the articles of association adapted to family relations,

• regulating the rules of representation and passing resolutions,

• adapting the management structure to a multi-person ownership model.

The aim was to create a stable, secure, and transparent legal structure enabling all heirs to operate jointly within a single business entity.

Thanks to the adopted strategy, it was possible to maintain business continuity, secure the company's assets, organize property relations between the heirs, and create a secure, target legal structure enabling further development of the company in the form of a limited liability company.

If you are facing the challenge of succession in a family business or the need to regulate the legal situation after the death of an entrepreneur, please contact us.