Succession Planning

Over the next few years, a significant amount of assets will be passing over or inherited to the next generation. As the succession planning in a company, the family or individuals asset succession planning should also prepared in a proper and appropriate way. There are several ways by settling the succession. One possibility is disposing of the wealth by law or by will. Another solution might be using an asset structure, such as a trust or foundation. The foundations or trusts according to the law of the Principality of Liechtenstein are very efficient and well known for any succession planning. There is a wide range of structuring opportunities for private use from a revocable set-up across the fully discretionary structure to the charitable use only.

Some general advantages of a foundation according to the law of the Principality of Liechtenstein are:

–          Succession planning through specialists independent from any will or inheritance by law;

–          Efficient and flexible succession planning of the family business;

–          Efficient proceeding for the succession process without a certificate of inheritance;

–          Possibility to preserve the wealth for future generations;

–          Anonymity for the beneficiaries: the opening of the last will is open to every heir. The beneficiary of a foundation is more anonymous regarding their name and amount;

–          Asset protection, if appropriate structured.

GN Treuhand is a new member of Global Law Experts. Nevertheless, we have more than 30 years’ experience in the formation and management of complex structures. Our wide range of services includes areas such as:

–          Succession planning;

–          Establishment of structures as foundations or trusts;

–          Company formation;

–          Tax consultancy;

–          Consulting services in the entire financial spectrum including legal advice in connection with financial transactions; and

–          Accounting and auditing services.