Advice on succession of family enterprises, companies and assets
- We comprehensively develop and implement succession models.
- We provide coaching services to heirs and support them in the process of taking over the family business.
- The typical succession process conducted by us includes:
- the succession analysis, i.e. an evaluation and description of the status of relationship ties between family members and ties in terms of assets with a view to identifying risks and potential problems, as well as possible alternative solutions;
- based on conclusions presented, the client proceeds to the decision-making process, which, due to the high sensitivity of the issues analysed, tends to be time-consuming; at this stage, our advice consists in providing answers to questions and presenting solutions to particular issues;
- developing a timeline for the implementation stage, depending on the chosen scenario, it may relate to the financial, legal or another area;
- implementation, i.e. the time for implementation of the concept, which involves the work of legal, tax and financial advisers, and accountancy professionals
- periodical audits of the implemented solution, aimed at checking the functioning of the adopted model, and introducing possible amendments and/or updates.
Drafting wills, acting as executors and trustees
- We assist in drafting wills, statutes of family foundations, duties and responsibilities of executors.
- We act as executors and trustees of private foundations and companies in Poland and abroad.
- We participate in inheritance proceedings in Poland and abroad.
Inheritance proceedings abroad
- We make sure that cross-border inheritance is dealt smoothly and safely.
- We liaise with reliable foreign advisors, which allows to professionally handle cross-border inheritance cases.
- We make sure that actions taken abroad do not entail any adverse legal and/or tax consequences in Poland.
Investment projects abroad and relations with financial institutions
- We support clients in evaluating the investment climate in locations contemplated by them.
- We conduct liquidation and inheritance procedures outside of Poland.
- In collaboration with our long-term foreign partners, we make it possible to properly assess the investment attractiveness of a chosen location.
- We evaluate potential procedural and legal barriers which may be relevant in the process of choosing the investment location.
- We provide comprehensive services, including legal and tax assistance in cross-border transactions.
Setting up private foundations and pro bono foundations
- We set up foreign family foundations and provide services related thereto. Private foundations allow to flexibly craft succession solutions.
- We help to reflect the intent of the founder by properly formulating the statutes, designing principles for beneficiaries’ participation and introducing control mechanisms.
- We design solutions involving family foundations with definite and indefinite time perspective.
- We actively partake in lobbying in favour of legal regulations enabling to set up private foundations in Poland.
- We assist clients in setting up pro publico bono foundations and provide services related thereto.
Restructuring of family firms
- We advise on the planning and implementation of the optimal legal frameworks for particular types of business, taking into consideration the client’s needs and the specifics of the client’s situation.
- We support our clients in the decision-making process.
- We develop detailed timelines for planned actions, taking into account their cost and time necessary for implementation.
- We support clients at each stage of restructuring, by offering either turnkey end-to-end solutions with clients’ minimum involvement, or by merely supervising projects run by clients.
Selected projects relating to succession
- Managing the succession of Tech-Med, one of Polish oldest trading enterprises (with more than 70 years of history) – providing conceptual support and ensuring a smooth transfer of the business to the fourth generation.
- Advising on the establishment of a private foundation of the Herse family in Warsaw, the purpose of which is to restore the memory and the functioning of “the most famous, in the pre-war time, and also the largest in Poland and Central and Eastern Europe, Bogusław Herse’s Fashion House”.
- Advising in relation to the restructuring of the Polish Konimpex Group (logistics and distribution of chemical and industrial raw materials) and preparing it for succession. It is a group of investment companies worth approx. PLN 350 million. Our assistance included developing a succession solution involving employees and the foundation, and securing the heir’s position in the succession. The key task of our work, in addition to designing a detailed legal and tax structure, was to obtain a precedent-setting tax decision before the Voivodeship Administrative Court.