Succession
Succession planning is not one-size-fits-all or a one-time event. Whether you are executing a carefully developed succession plan or reacting to a sudden leadership departure, we can offer a full array of services to support your organisation through a leadership transition.
Our consultants help you design, improve and implement effective emergency and long term succession plans so that you have the talent supply when demand calls. Our work will help you build the diversified bench needed to execute on your strategy.
Legacy Planning
Legacy Planning is a more holistic approach to estate planning. It is the creation of a definitive plan for managing your total wealth while you’re alive, distributing your estate how you choose after your death, and a clear plan to pass on your legacy. Your estate includes all assets of any value that you own. This includes non-financial assets as well as financial assets, including real property, business interests, investments, insurance proceeds, retirement accounts and personal property. Your legacy also includes important decisions that ensure your family’s core values, responsible behaviours and community involvement, are passed on to future generations.
More than four out of five (84%) young children of millionaires say they want to sustain and build on their family's legacy.
Legacy planning prevents surprises by bringing the extended family into the planning process. And it lets patriarchs and matriarchs see their legacy begin to unfold while they are alive to appreciate it. All affluent families are concerned with preserving and managing their wealth. They want to successfully navigate the risk that’s part of the modern world. But they’re more concerned about the things that can’t be quantified, such as bestowing wealth on children in a healthy way; expressing familial values through philanthropy, and ensuring that future generations understand the family’s values and the source of its wealth.
Traditional estate planning can preserve and apportion wealth but it does not help to ensure a stable legacy within a multi-generational family. It focuses on a transfer that occurs after a death, and it pertains to quantifiable financial assets. Little in conventional planning fosters long-term family harmony.
