In a family business, succession is typically an intense and lengthy process as business and private interests are intertwined. Our specialists understand the interplay between the financial and emotional aspects you face as a business owner and they will bring them out in the open. They can help you navigate the process from start to finish, ensuring that all financial, legal, tax and emotional boxes are ticked.
Our corporate finance specialists can help you answer questions such as: is my intended successor the right person for the job? What do I do for children who are not, or do not want to be, involved in the family business? How do I make sure that my assets are distributed fairly among my children? What are the risks of a business transfer within the family? Are there any tax facilities that apply to my stepping down from the business? Will I be able to live a comfortable life once I have retired?
After many years of hard work, there is nothing more satisfying than entrusting your business to your children. They probably know the business inside out and have their own ideas on how to grow it. But what about the financial side? Do you want to reinvest your assets in the business? Or do you expect your successor to take out a bank loan? And at what terms? You will need to consider tax, legal and financial aspects in the succession process, think about your communication strategy and come up with a shared vision. Everything you agree on has to be documented. We would be happy to support you throughout the process so that you do not have to worry about anything. We can give you peace of mind.
Our succession planning services will usually be provided by Crossminds, an independent service provider that is a member of the Moore DRV network. In some instances, however, your accountant or tax adviser will take the lead. The professionals at Crossminds are used to working with their colleagues at Moore DRV. They can also partner up with the tax experts at Zantboer & Partners for clients who require asset planning services. This teamwork brings flexibility and speed to the process. Being part of the same network ensures consistency in service level and in the expertise you need to be successful.
For more information about our succession planning services and how we can help, please leave your contact details here and one of our advisers will reach out to you.