Family
Family Business Succession Agreement
Family business succession contract defining ownership transfer procedures, management transition plans, valuation methods, family member roles, and conflict resolution mechanisms.
Key Clauses
1
Rights and Responsibilities
Defines each party's obligations, rights, and expectations within the family arrangement.
2
Financial Provisions
Addresses income sharing, property division, support obligations, and expense allocation.
3
Dispute Resolution
Establishes mediation and resolution procedures prioritizing family well-being.
4
Modification Terms
Specifies how the agreement may be amended as circumstances change over time.
5
Voluntary Execution
Confirms each party entered the agreement voluntarily with full understanding and legal counsel opportunity.
Use This Template
When You Need This
- Family business owner transferring company to next generation
- Siblings agreeing on business ownership and management succession
- Retiring founder passing business to trained children or relatives
- Multi-generational family planning business transition and ownership