Succession planning

In a legal context, Succession planning is the process and strategy of designing a system by which assets and wealth are transferred from one generation to the next, as efficiently and effectively as possible, given all of the circumstances of the client’s particular situation.

This might include, business assets, personal assets being passed to children and/or making provision for vulnerable children. Depending on the particular facts, a number of different methods might be used in order to achieve the clients desired outcomes.