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Corporate and Private Succession
Planning
Planning a client´s succession with regards to his private
wealth or her shares in her company is
a highly emotional and not only a legal issue. We carefully
evaluate the personal situation of the client and the family
to reach an optimal result.
Succession planning should be conducted as early as possible.
That is true if the client wants to transfer her fortune in
her capacity of a private individual and if the succession
of the client´s business company is at stake. At no
later age than 50, the client should decide how the company
will be run in the long-term. For business and legal reasons,
a successful corporate succession planning requires early
on, in addition to testamentary regulations, a number of legal
measures, including dealing with contingencies. We help our
clients do the necessary legal steps.
We advise our clients in the following areas:
- choice of the proper succession model (sale, gift, succession
mortis causa, installment plans, etc.),
- appraisal of the client´s fortune and company (in
cooperation with independent CPAs),
- negotiation and drafting of all necessary agreements,
- tax law issues concerning the succession,
- labor law issues that are accompanied by the succession,
- wills and trusts issues,
- prenuptial agreements,
- pension plans and investment counseling (in cooperation
with independent financial experts).
Private Foundations
Private foundations play an increasingly important role in ensuring
a smooth corporate or private succession planning. The creation
of a private foundation that protects the client´s lifetime
achievements and his legacy after his death does not only keep
the family assets intact, but also provides for an ongoing income
for the client and his family. As charitable entities private
foundations enjoy favorable tax treatment and can be used in
minimizing the tax consequences in a succession.
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Nonprofit
Tax Law
