The studio provides a careful assessment of all assets owned by the client, so they can rest easy knowing that their holdings are safe. Simultaneously, we work with the client to achieve their goals of providing a stable and profitable generational transition.
Every real estate venture is unique, and our professionals devote a great deal of time familiarizing themselves with each client’s situation. Stemming from our observations, the studio can tender advice and provide research tools to ensure that planning is simple, efficient, and worry-free. Furthermore, our professionals are always available to discuss any concerns or requests that may arise.
We help you:
- Clearly define real estate planning goals;
- Evaluate and recommend real estate planning options;
- Prepare, organize, and review real estate planning documents including current wills, trusts;
- Decrease the problems and expenses associated with the succession;
- Organize the management of your property in case you are incapacitated;
- Draw up a work plan to effectively preserve and manage your assets after death
If you own a family business, retirement is not simply a matter of deciding not to go to the office anymore.
Questions may arise over the handling of the business like:
“What happens to the business when you don’t run it anymore?"
“Do you want to have enough money to retire?"
Family dynamics complicate the entire transition due to the relationships and emotions involved. Most people are not comfortable discussing topics such as aging, death and financial affairs.
Comfortable or not, succession planning should be a priority for any family business considering that more than seven out of ten family businesses fail to survive the transition from founder to second generation, typically falling prey to property taxes or family discord — or both.
The development and implementation of a well-designed succession plan is essential for the survival of a family business from one generation to the next.
We help you with these key issues:
- Keeping the business in the family. Are you going to pass the business on to your family or sell it to a third party? We help you assess the advantages and disadvantages of each of these options.
- Who will run the company when you leave? Management and ownership are not one. You can choose to transfer your business management to just one of your children, but transfer equal business ownership shares to all your children, regardless of whether they are actively involved in the business or not.
- Minimize the tax impact. The tax burden in the transition of a family business can be significant. The challenge is that a family business is generally not a liquid asset, but taxes are typically due when ownership is transferred.
- Be fair. Transferring family ownership often adds enormous stress to individual family members. We talk to each of the family members to make sure they feel they get a fair and fair share of the cake.
- Corporate/family renovations;
- Management and planning generational transition in the company;
- Tax consequences;
- Tax projections;
Thoughts of wealth planning often bring more questions than answers:
Could an heir be too young to inherit?
Should inheritance be given at a certain age?
Is the beneficiary expected in a wobbly divorce marriage a possibility?
Are there children from a previous marriage?
Should the inheritance be protected by the heir’s potential creditors?
Are there taxes that can be avoided?
Are you able to avoid the rules, delays and costs of the probate court?
Planning what happens to your assets when you’re away can seem frustrating and intimidating without qualified help. You may feel too young to worry about wealth/inheritance planning. Or maybe the idea of death makes you uncomfortable. You might be tempted to put it all away, assuming the whole thing will work out on its own.
In all cases, real estate planning ends up saving your family a lot of time, pain and money.
- Declarations of succession;
- Family pacts;
- Family asset accommodation and generational passages;
- Retirement projections