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Succession, Private Assets, and Foundations

Entrepreneurs and family-owned undertakings in all branches of business appreciate our competence in serving their needs. Our experience, accumulated over decades, enables us to prepare future-oriented solutions which serve each client well.

We advise entrepreneurs on the managerial, tax and legal aspects of succession. Taking the initiative in time for the transfer of control over the undertaking makes it possible to plan and implement solutions with due regard to the legal and tax opportunities.

The lack of a successor and the desire to engage in philanthropic activities frequently lead to a foundation as an instrument of succession. We provide legal and tax advice to foundations, both in the formation process and to assist in meeting the everyday challenges.

1. Asset

ˈasɛt/ plural noun: assets

a useful or valuable thing or person. "quick reflexes were his chief assets"

synonyms: benefit, advantage, blessing, good point, strong point, strength, forte, talent, gift, strong suit, long suit, virtue, recommendation, attraction, attractive feature, selling point, resource, beauty, boon, value, merit, bonus, aid, help;

antonyms: liability, handicap
an item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies. "growth in net assets"

2. Succession

səkˈsɛʃ(ə)n/ (noun: succession; plural noun: successions)

In Law, it is the property, or inheritance, in law, is the passage of an individual's property to one or more dependents according to a formula set out in law, religion, custom or under the terms of a trust. Succession (conflict), inheritance when more than one jurisdiction involved and there may be a conflict of law.

  • - a number of people or things of a similar kind following one after the other. "she had been secretary to a succession of board directors"

  • - the action or process of inheriting a title, office, property, etc. "the new king was already elderly at the time of his succession"

3. Foundation

(or, more commonly, foundations) faʊnˈdeɪʃ(ə)n/ (plural noun: foundations)

- the lowest load-bearing part of a building, typically below ground level. "foundations were being dug for a block of flats" synonyms: footing, foot, base, substructure, understructure, underpinning; "the weight of the roof is transmitted through the walls down to the foundations" a cream or powder used as a base to even out facial skin tone before applying other cosmetics. "foundation cream"

- an underlying basis or principle. "this idea is the foundation of all modern economics" synonyms: basis, starting point, base, point of departure, beginning, premise; fundamental point/principle, principal constituent, main ingredient; principles, fundamentals, rudiments; cornerstone, core, heart, thrust, essence, kernel, nub, underpinning, groundwork. "keeping records is the foundation of any personnel system"