Family business and succession
"Knowledge may give weight, but accomplishments give lustre, and many more people see than weigh." - Herodotus
Family businesses have an interesting dynamic between company, family, and capital. This dynamic must be clearly mapped out in order to answer the really big questions such as succession, exit, generations, governance, and wealth planning. Only then is it possible to make the right tax-legal decisions aimed at preserving family cohesion and ensuring the prosperity of the family’s wealth (as embodied in the business). We guide the process that families go through to reach responsible decisions, whilst explicitly taking into account long-term effects and social integration.
Family businesses draw on our integrated expertise in tax law, inheritance law and company law, combined with our process-based approach to the transition process, which is underpinned by our expertise as mediators in family businesses. This sets us apart from traditional ‘silo’ advisers.
"Ineke Koele provides highly competent and professional service for family businesses and is always personally engaged".
Dr. F. Schonewille, Schonewille Legal Mediation
Broad perspective
We provide advice from a broad perspective on the key transition processes within family businesses and, drawing on this breadth of expertise, devises tax and legal solutions tailored to each individual family and its business.
Various international studies have shown that whilst most entrepreneurial families do have access to good technical advisers, the dialogue required to reach sound decisions takes place only sparingly. This calls for advisers who also possess the ability to build trust across generations within the entire family, so that decisions can be taken with the support of all members. It is precisely this combination that sets us apart. It is now widely accepted that the causes of decline in family businesses lie in a lack of trust, communication and preparation for the NextGen. A purely legal and tax-based approach is therefore insufficient to achieve a sustainable transfer of wealth.
Where legal-technical advice alone is applied “top down” in family businesses and not embedded in a familial and business accord, the probability of disappointments, incomprehension, mistrust and even conflict is real. Instead, we can only speak of a "success" if a business transfer creates a lasting legacy.
Process-oriented approach
Koele Tax & Legal Perspecta therefore approaches the key issues facing family businesses not from the perspective of a ‘top-down’ transaction, but from the perspective of a process in which all those involved in the transfer of assets are engaged. This is what yields the best solutions. The legal structure follows the function that the family assigns to the (business) assets, and not the other way round. We help you to shape this process and prepare for new roles. We work alongside your regular advisers and additional professionals, as required.
- Listen to the webinar on Balancing Intergenerational Interests with John Riches and Garvin Brown for STEP
- Read the publication Shareholder Foundations of Enterprises: the North European style of securing family businesses
- Read the chapter: Under What Circumstances can Stewardship Foundation structuring be a solution to families, enterprises and society at large ?
- Listen to the 13 editions of the podcast (in Dutch) podcast Macht en Onmacht in het Familiebedrijf, together with dr. Fred Schonewille
- Look at the initiative (in Dutch) of Kurago Academy for Conscious Counsel
Advice, guidance and implementation
We advise on different kinds of solutions, process planning and partial subjects that are subservient to the process of transformation. We have an engaged, but also critical sounding board function and may even operate temporarily in a trust office foundation, supervisory board, or advisory board or give indicative suggestions to steer the different stakeholders in a certain direction. In the final phase, we make sure that a tax-efficient structure is put in place and thoroughly documented. We are more than happy to work with your steady team of advisors. Experience shows that our clients’ advisors experience the collaboration as enriching.
