ARC has successfully completed many mediations to resolve the issues of “succession planning” for both SMEs and farms.
Succession planning involves identifying a person or persons to take over the running and ownership of your business on retirement or, tragically, death.. In the case of family businesses, there may be additional issues including inheritance law, taxation regulations and incentives, and the expectations of family members working in the business. It is a complex area that requires skilled professionals working in tandem to achieve the best results.
When you use ARC for succession planning for your family business we help you by:
- Appointing a team of (2-3) mediators with the appropriate expertise. Generally these skills will involve legal knowledge including company law and probate, financial knowledge including accountancy, and knowledge of taxation planning on retirement.
- Our aim isn’t to replace the business’s own advisors but to quickly understand the many issues involved in order to reach a sustainable and well-considered resolution;
- Learning about your business, in particular the culture and values that have made you successful and that you wish to preserve!
- Understanding and documenting the myriad legal and financial issues of succession, as well as exploring how succession plans will impact relationships;
- Managing the succession planning process with clear steps, timelines and decisions points;
- Discussing these succession issues with all interested parties in a sensitive and knowledgable manner to help bring clarity and understanding;
- Involving the business’s legal and financial advisors in the process in a collaborative manner;
- Creating detailed, highly nuanced and holistic plans which address the foreseeable issues and ideally provide win-win outcomes for all interested parties;
- Helping the parties to implement these plans when required; again working in collaboration with your own advisors.
- Being flexible and accommodating. We understand you’re busy and we can meet clients outside of regular office hours upon request.
To learn more, please contact us to speak with one of our experienced and skilled mediation team or call us on 051 348336