Family & Business Succession Planning

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The latest developments in taxation have made it increasingly difficult for business or asset owners to transfer wealth or assets in a tax-efficient manner.
Under such circumstances, private company owners and wealthy families need tax efficient means of transferring wealth or business to successive generations.
We assist clients with a proper succession planning which is designed to avoid possible risk of dispute between successive generations, maximize the benefits of assets, and ultimately enhance the public recognition of corporate image.

The lack of comprehensive plan for asset or wealth transfer should bring about an excessive tax burden to heirs. We help clients develop sound strategy and tax payment methods so as to minimize tax and administrative cost of heirs.

Our family & business succession planning services include:
 

  • Advise on the transfer of ownership or distribution of assets to family members or other intended beneficiaries to meet clients’ goal in establishing the desired business succession structure; advise on appropriate tax master plan to minimize exposure to inheritance and gift tax.
  • Review applicable tax exemption or reduction and tax payment methods, map out the disposition of assets and review asset distribution planning at the lowest tax cost possible.
  • Identify possible risks and issues that might be challenged by the tax authorities in an audit, suggest solutions to these possible risks, and assist clients respond efficiently and effectively to the tax authorities; assist clients in developing a plan to minimize additional tax assessment or review the pre-assessment of additional tax.
  • Develop recommendations and assist with appeal procedures.