Succession
When planning succession, it is very important to choose the right legal solutions, which requires taking into account a number of circumstances.
Succession
Entrepreneur:
- Would you like your business to survive for generations to come?
- Do you have adequate capital to provide for your children and spouse if all business liabilities were to be passed on to them as an inheritance?
- Do you have adequate funds to cover severance pay for employees if your heirs are no longer interested in continuing your business?
- Are you sure you have chosen the most appropriate form of business activity, taking into account tax aspects, liability for obligations and inheritance proceedings?
- Are you in an informal relationship and would like to ensure the financial security of your loved ones?
- Do you have a complex family situation and would like to have a say in how your assets are distributed? (e.g., children from different relationships, no division of assets from a previous marriage, no separation of assets in an ongoing marriage)
- Do you run a business in the form of a civil partnership, partnership or corporation and would you and your partner like to protect your assets in the event of the death of one of you?
According to research conducted by the Polish Agency for Enterprise Development, most entrepreneurs claim that succession can be prepared in a year. However, in reality, transferring assets is a complex and lengthy process, so planning is crucial.
Taking the right steps now can ensure long-term, multi-generational business success.
Proper succession planning not only ensures the development of the enterprise and secures company finances, but also protects private assets.
When planning succession, choosing the right legal solutions is crucial, requiring consideration of a number of circumstances. Different solutions will be provided for a company operating as a sole proprietorship, family businesses, and individuals running commercial law partnerships.
Remember, succession isn't just about properly drafting a will; there are many other legal and tax aspects to consider. It's crucial for the future testator to be aware of the options available under the law. Business succession itself is a broad concept, encompassing both property-related aspects and those related to the transfer of management.
Have you ever considered the potential consequences of a lack of proper succession planning?
Failure to properly plan for succession and legally prepare a business for transfer after the owner's death means succession is subject to statutory rules set forth in the Civil Code, which results in the fragmentation of assets and, consequently, often leads to the company's failure and, in many cases, family conflicts. Therefore, it's important to ensure proper succession planning and protection.
A team of lawyers from Graś i Wspólnicy Law Firm, in cooperation with other specialized entities (tax advisors, economists and insurance advisors), will help you plan and effectively implement appropriate succession steps.
Experience
Among the cases we handle, we can boast of:
audit and implementation of personal data protection processes in a joint-stock company that is one of the leaders in the Polish liquid fuel market
audit and implementation of personal data protection processes in a leading recruitment and HR consulting company on the Polish market
audits and implementation of personal data protection processes in development companies
audits and implementation of personal data protection processes in development companies
