Succession Management
Tax-planning
In certain countries a Trust or Foundation can prove an effective tax-planning structure to pass a family business to succeeding generations.
However, the non-tax attributes of these structures – centralised control and management, flexibility and continuity – offer the greatest help to the family in business succession planning. By engaging Key Trust Company to serve as the Trustee or Foundation Council, the family gains impartial continuity through the generations. We offer professional support to help the family achieve its agreed objectives.
Through a structure managed by Key Trust the family gains a means of oversight combined with management of the business. The benefits can include:
- Centralised control during the founder’s lifetime
- Transfer of equity without loss of control by the founder
- Flexibility to respond to unexpected events
- Seamless transition should the founder become seriously ill or disabled
- A forum for educating the family on the responsibilities of wealth
- A structure for bringing family members into management positions
- Equitable treatment of family members during the founder’s lifetime
- A mechanism for allocating ownership interests in line with any business restructuring.
To discuss how the expertise of the Key Trust Company can help your family’s succession planning, please contact brian.clarke@key-trust.com.
