Succession planning is one of the greatest challenges for family business owners. At Kochański & Partners we understand how important it is from the point of view of business development to maintain continuity within the organisation and at the same time to pass on knowledge, values and ideals to the next generations. Therefore, we support our clients in the succession process by offering bespoke solutions tailored to their individual needs and expectations.
Common values, explicit goal
The succession package covers:
- development of a succession concept based on the individual needs of clients and their families;
- drafting of a family constitution describing succession principles and goals, and specifying family business values and pillars to be preserved after the death of the business owner;
- implementation of a succession structure – clients select one of our proposed solutions which we implement, or present us with a desirable solution – we then assess its feasibility, legitimacy and possible legal and tax consequences, and implement it to the highest possible client satisfaction;
- transfer of assets, including the preparation of and assistance in signing legal documentation under which the assets are transferred between family members;
- coordination of foreign advisors’ and service providers’ work if succession structures in foreign legal jurisdictions are selected;
- ongoing tax assistance in tax settlements relating to private property, as well as family business property and activity.