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succession plan

September 22, 2017

More than a sixth of family offices managing on average close to $1 billion of assets have no plan for generational transfer, while only a third of offices have written succession plans.

More than a sixth of family offices managing on average close to $1 billion of assets have no plan for generational transfer, while only a third of offices have written succession plans.

The newly-released Global Family Office Report 2017 (GFOR) found while family office succession planning has increased in the past year, with nearly half of family offices (47.3%) having a succession plan, either written (33%) or verbally agreed (15%, a fifth had no plan or did not know if a plan existed.

March 14, 2017

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

March 1, 2004

Most family firms have a formal succession plan in place, right? Wrong.

Most family firms have a formal succession plan in place, right? Wrong. Ireland and its business families, it seems, is the latest example to be held up in a growing list of apparently shoddy planners. Almost half of Irish family businesses have no formal succession plan in place, according to a survey by PricewaterhouseCoopers. The report, released in March, involved 55 family businesses ranging in size from those with fewer than 25 employees and an income of less than €2 million to those with more than 100 employees and an annual income of more than €20 million.

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