Some entrepreneurs and high-wealth individuals fail to make timely preparations for their estate. Our advice is not to wait too long in giving some thought to your estate and in taking action.
Why think about your estate now?
Your successors can reduce their inheritance tax and you can exert influence on what happens with your assets by making timely capital transfers to your successors.
Inheritances tend to come too late for the beneficiaries; many are already in their 50s and their professional careers are already set in stone.
By making clear arrangements in good time during your life as to who will get what, you can maintain peace in the family.
Who will get what from the family company?
Through planning the children who are interested in the company can get the shares in it beforehand. The other children, those who are not active, will receive their part from the private capital.
If you do nothing you successors will inherit your undivided estate in the event of sudden death. This often triggers discussions, sparks arguments and sometimes even means the end of the company.
Our office can assist you by providing initial advice on your succession planning in consultation with your notary, bank or lawyer.