Planning a Successor

Many questions arise when planning a successor and effects many areas, which must be seen as an entity and cannot be viewed individually.

• Principle
  • Is there a successor in the family or is there an external one?
• Inheritance law/matrimonial property
  • What inheritance consequences does a family succession have?
  • How can the husband/wife be safeguarded?
• Contract law
  • Drawing up the various contracts (purchase agreements, etc.)
• Profits tax/income tax
  • Is the company to be trimmed down before the sale? What tax consequences do e.g. converting an operational property to private wealth have?
• Financial planning
  • What about the financial situation after handing over a company?

These are just some of the questions that arise. Experience has shown that planning a successor is time consuming. Done carefully, this can take five and ideally up to ten years.

The legal, inheritance law and financial planning aspects take precedence over tax aspects, in in my opinion. During planning, the tax consequences of the measures taken are constantly examined. The focus can turn to tax once all the questions have been answered and can be corrected or improved, if necessary.

The company succession should only be completed fully when a binding tax ruling is in place.

Thus, I advise you to contact me on time to discuss your ideas. I will be only too happy to support you with your tax affairs and can co-ordinate with various experts and partners (lawyers, financial planners and banks, etc.)