Succession and inter-generational wealth transfer

We have worked and are working with a variety of affluent individuals, their businesses and families, and every one of them wants their personal wealth preserved, protected and passed on safely to future generations.

Together with you we will prepare and work out a well-thought succession or inter-generational wealth-transfer plans. We will do it well in advance to give you peace of mind you are wishing for. The continuation and inheritance plans will help identify successors and heirs, set out how best to support them and your targets, include the detailed tax and estate planning points.

We will take care of the headache of how to pass wealth to your children and other close and distant relatives, and how to manage your business after you retire.

First things first

Before we proceed to preparing any wealth-transfer or inheritance plan, you need to answer the following questions:

1. At what age do your children get access to your wealth?
2. Should you establish controls or restrictions for some periods of time?
3. Do you know who is going to run your business when you step down?

It is important to create a sound plan for the transfer of wealth to your heirs and a succession plan for your business, particularly if your children work there. When you are no longer leading the company, a detailed succession plan will help your business realise its goals. High-net-worth individuals without an estate plan in place can risk a serious reduction of assets by income taxes, probate fees, and other associated costs.

Our services

Whether it is your family or your business that you are worried about, Imperial & Legal will support you in the following matters and many more:

• Managing your current tax situation through, for example, income or capital gains splitting (where possible);
• Fulfilling your tax reporting requirements in a timely and cost-effective manner;
• Developing and implementing financial and taxation schemes to enhance personal and family estate while preserving assets for succession;
• Reviewing your continuation plan, especially if your children are involved in the business;
• Establishing a solid succession plan that can help you manage the transition to the next generation.