Securing family wealth over generations needs thorough preparation. Careful estate and inheritance planning is the key to protecting family wealth and avoiding family conflicts. Esche Schümann Commichau specializes in providing legal and commercial support in relation to succession planning.
We provide our clients with long-lasting feasible and flexible succession solutions. In addition, if required we can act as mediators between the generations and other parties. Some of our partners also practice as executors of estates.
International estate planning
Succession frequently involves inernational aspects, for example due to assets situated abroad or residence in another country. This usually results in complex legal and tax consequences. Esche Schümann Commichau has long-standing experience in advising on international estate planning including international probate issues. In some cases we draw on the expertise of renowned partners in our international network.
The transfer of corporate assets to the next generation is one of the most important challenges facing the owner of a family-owned business. In this process, the family's interests and the company's financial requirements must be brought in line with each other. The design of workable legal structures often raises a variety of issues in relation to taxes on profits. In addition, the burden of gift tax can lead to considerable losses of liquidity. The use of tax privileges for corporate assets is therefore not only desirable but essential.
The interlinking of legal, economic and tax consultancy as practiced by Esche Schümann Commichau is of particular significance in corporate succession, since not only tax but also inheritance and family law elements are significant for the enduring order and allocation of family assets. In these circumstances, Esche Schümann Commichau provides support through analysis of assets and corporate structure, development of concepts for corporate succession and their implementation through legal and organizational measures.