Succession arrangements

We know that your own com­pany is usu­ally the res­ult of an en­tire life’s work, and it should be placed in trust­worthy and cap­able hands. Ad­equately plan­ning suc­ces­sion can mean the on­go­ing suc­cess, or the fail­ure, of a com­pany. In ad­di­tion to choos­ing a suc­cessor, it’s also ne­ces­sary to take com­pre­hens­ive pre­par­a­tion meas­ures, en­sure a smooth han­dover and an­swer any tax and so­cial se­cur­ity ques­tions that arise; in par­tic­u­lar, le­git­im­ate heirs in the fam­ily could make a claim to the busi­ness, which can com­plic­ate suc­ces­sion ar­range­ments. And, nat­ur­ally, busi­ness own­ers want to main­tain their own stand­ard of liv­ing after step­ping down and en­sure that they have no fin­an­cial wor­ries even after their time in the com­pany is over.