Succession can be a difficult subject to broach and families often wait until a trigger event such as divorce or death.
This article outlines ways in which families can engage proactively with the process, including questions which should be considered at an early stage. The article also details vital elements of succession planning, such as structuring, stewardship of the business/estate, cashflow, tax and asset protection.
This approach will help families to focus on long-term planning and engage subsequent generations to safeguard the ongoing prosperity of the estate.
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