Family Office
Succession Planning
Family-owned businesses are core to the Indian business environment. While these businesses grow from one generation to another, many of these companies continue to be managed by family members themselves. It’s observed that less than 10% of the businesses survive after the fourth generation making them difficult to grow.
Succession of ownership
Succession of management
succession of name & family values
Typically, continuity planning, conflict management and lack of effective communication are issues that are faced by all family-run businesses in India. Given the vast culture inherent to Indian families, protecting the family ethos and relationships is paramount for these businesses. Further, younger generations are seeking more structured support in leadership development, mentoring and role definition to realize their business goals.
At Transaction Square
We understand the importance of succession planning
We even assist in identifying alternate ownership structures for the family (such as holding companies, LLP, Trust, etc.) for wealth maximization and protection in line with the business objectives. We critically evaluate the said options from a tax and regulatory perspective, assist in selecting the most appropriate solution and thereafter in implementing the same (including drafting of trust deeds, settlement agreements, wills, letter of wishes, family protocols, etc.). With our deep knowledge in the field of tax and regulatory, we identify the impact of changing laws and business environment on succession and inheritance of wealth.
Our experts in this space even assist in situations of dispute in families, arbitration, asset distribution, family settlement, etc. providing suitable inputs from a tax, regulatory and business perspective.
