Estate- and Succession Planning

“Because succession can be even messier than the series made it look. A lot.”

Estate planning: everyone’s top favorite topic to put off for as long as possible. However, the sooner you start with organizing and arranging for the management and disposal of your estate, the more options you’ll have to arrange this according to your own wishes and in a tax-friendly manner. Estate planning can be divided into Private Wealth Succession and Business Wealth Succession.

Private Wealth Succession

Private Wealth Succession covers the transfer of wealth from one generation to the next in a family. Planning of this process is imperative to ensure that assets are passed on efficiently and in accordance with your wishes. This planning often includes the preservation of wealth, minimizing gift and inheritance taxes, and providing control over how assets are distributed and managed. The Private Foundation (also known as SPF) and the Trust are ideal entities to help you manage and protect your assets effectively.

Business Wealth Succession

If you have a business, through sole proprietorship, partnership or legal entities, you might contemplate the transfer of ownership and management to the next generation or to new owners. Here, it is crucial to safeguard continuity of the business first and foremost and secondly to minimize taxes associated with the transfer of ownership. As every situation is different, our team of advisors will help analyze your specific needs and objectives and help you carry out a business succession plan which is best suited for you. Addressing this issue now, allows you to create a thorough estate plan that reflects your wishes, provides for your loved ones, and minimizes potential legal and tax issues.