Advice on Private Inheritance Questions
Who should inherit what? We’re here to help you overcome these technical and emotional hurdles.
What is succession planning?
Unexpected Events or Emergencies
It’s never too early to prepare for an unexpected loss of ownership or a succession dictated by external circumstances: for the good of your company and your family.
We Can Help
- Assistance in resolving legal and financial matters;
- Advice on powers of attorney, wills, contracts of inheritance, advance care directives and shareholder agreements;
- Assist you with your succession planning and examination of the costs and benefits.
Succession Planning Takes Time
Consider all your options and get an idea of what every family member and other important stakeholders – such as the management team – expect.
Consider This:
- Ensure Continuity Within Your Company and Family;
- Create Independent Management and Personnel Structures;
- Examine The Legal and Taxation Conditions and Implications.
Long-Term Safeguarding of Your Wealth
The positive development of your business is central. So too is the cautious structuring of your total wealth at an early stage.
We Can Help
- Optimize Your Private and Business Asset Situation;
- Convert Company Assets Into Private Assets;
- Review Your Pension Planning.
Succession Planning: What Are Your Options?
Succession Within The Family
A family buy-out is influenced by business and family issues. If, for example, several family members work in a company, they need to think about how it will be divided up and also include members of the family who are not involved in the company.
In addition, lay down a time frame during which responsibilities, management and ownership are to be transferred, while making sure that your own future is secured.
Succession Within the Company
When management employees become partners in the business (management buy-out), communication with employees, clients and suppliers is key. During the transition phase, it’s also important that the future working relationship between the existing and the new owners is clear.
External Company Sale
To ensure the long-term success of your business if you sell your company externally you should carefully consider the buyer’s personality, their level of trustworthiness and their technical and management expertise. Clarify the financial aspects at an early stage and whether succession planning should take place gradually or in one go.
What Needs To Be Considered During the Different Phases of Succession Planning?
The sooner you get to grips with succession planning, the more room you’ll have for maneuver when it comes to planning and implementation.
In the different phases of succession – such as preparation, planning, implementation – and also once the process is complete, the basic questions need to be dealt with as early as possible.We’ll demonstrate potential solutions, advise you on the best option and assist you with implementation.
