Succession planning
Family companies are a driving force of economic growth in almost all countries. Younger family generations can innovate faster than competitors.
In family companies, it is crucial to maintain balance between achieving business goals and maintaining family values. Globally, only one in three family companies successfully implements a succession plan that ensures the younger generation acquires control with as few problems or risks as possible.
How can we help?
How should you prepare for the next generation to take over a company? What should you do to achieve both family and corporate goals?
- Our succession planning helps clients to effectively and efficiently distribute assets between their heirs and to restructure their assets for optimum succession results.
- Succession planning problems can occur when a family, or their heirs, have conflicting commercial or personal interests, or where there is no natural successor who wishes to continue a business activity. Alternatively, clients may wish to structure an inheritance differently from the default rules found in the Polish Civil Code.
- Commercial succession planning includes developing solutions to manage commercial property and implementing asset transfer mechanisms for specific successors. Such solutions can be achieved via Polish law instruments (such as wills) or by foreign law instruments (such as private foundations).
- We can help you devise a succession plan to achieve your commercial and personal goals and ensure efficient asset management (including via capital structures comprising foreign entities, investment funds etc.) We design a plan that works best in your particular family and commercial circumstances, taking account of different succession scenarios, such as multi-staged successions or other individual succession goals.
- Has your company’s development led you to think about restructuring? Does your company have the best action plan which meets the needs of the market?
- What are the benefits of commercial succession planning?
· Ensuring a continuous supply of motivated and qualified employees who bring new ideas to the company;
· Engaging in the individual development of employees;
· Ensuring the company’s long-term continuity and success;
· Satisfying commercial goals without losing the company’s vision and its specific family character.
- Succession planning also improves employees’ general opinion about their employer by assuring them that you have their interests at heart.
Our experience
Designing a succession strategy to restructure and divide the inheritance assets (valued at over PLN 2 billion) of a deceased Polish entrepreneur between the heirs to ensure the maximum cost-efficiency;
Implementing an inheritance involving assets (inc. real properties, portfolio investments, shares and stocks in overseas companies) valued at over PLN 550 million, while also reorganising the assets of certain heirs;
Implementing a tax-optimal solution for a revocable trust located on the Isle of Man.
