Succession is not just the need of the hour for individuals with wealth but for businesses as well. While the tools relating to individual succession and business succession may differ, they seek to fulfil a similar underlying objective of clearly defining the rights, obligations and relationship between individuals and/or organizations. The major offerings are as under:
- Assistance in identifying the goals of succession
- Basis of such goals, identifying the correct blend of instruments such as Will, HUF, Gift, Trust etc. in the case of individual succession planning
- Securing a portion of the wealth of the family from the risks of the businesses.
- Drafting the requisite documents
- Examining business competency and planning business continuity
- Introducing corporate governance within the organization
- Setting up a Family Board Structure in case of family run businesses
- Assisting management to set up the Vision and Mission for the group and to empower them with control procedures to achieve the same