Jurisdiction(s):
United Kingdom

Key definition

Succession definition

What does Succession mean? Succession describes how a deceased person’s estate is transmitted on death, by will (testate succession) or, if there is no valid will, under the statutory intestacy rules, and identifies who is entitled to inherit and how the estate is administered. The term is descriptive across UK and Irish practice, but the rules are set by legislation and case law in each jurisdiction. It typically involves personal representatives (executors or administrators) obtaining probate or confirmation, realising assets, paying debts and taxes, and distributing to beneficiaries. In England & Wales and Northern Ireland, succession is principally governed by the Administration of Estates...

Law Firm Succession Planning: Clients, People, Structure, Finance and Risk for Growth, Sale, Merger or Orderly Closure

Published by a LexisNexis Practice Management expert

Practice notes

If you fail to plan, you are planning to fail

These wise words, commonly ascribed to Benjamin Franklin, are strikingly relevant to the running of law firms today and their ongoing management. Whether your practice is a one-person outfit or a substantial organisation with numerous stakeholders, the underlying challenge does not change in essence. succession planning is more than plotting for retirement; it is about charting the future of your firm and then gearing up to take the steps required to achieve that vision in reality.

Your approach will be shaped by whether your objective is to:

grow
hold (remain the same)
dispose
close

Once the destination is identified, the succession task becomes far simpler to manage. plans must always consider clients, people, structure, finance and risk in every case, though the balance will shift according to your chosen path and priorities will inevitably adjust. If closure is in view, retaining staff demands careful handling; by contrast, if expansion is the aim, cultivating tomorrow’s talent becomes paramount. Should a sale be intended, attention turns to precisely what, in substance, will be sold. There is no universal solution to planning for what lies ahead; success rests on discovering the answer that is right for...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...