BUSINESS SUCCESSION PLANNING
This service focuses on helping entrepreneurs in the area of conscious planning of the transfer of company, all its rights and liabilities in partnerships or shares in capital companies to its legal successors. This applies both to the transfer of management over the business and to securing entrepreneurs, companies or successors in the event of death of entrepreneur or his partner.
Succession planning for the transfer of management is concentrated on the restructuring processes of conversions, mergers or divisions of individual forms of conducting business. It requires the preparation of a succession plan, memorandum of association, articles of association and resolutions.
Business succession also covers securing entrepreneurs and their companies against business interruption, including accidents and death. It concentrates on proper adjustment of agreements and commencements of business, preparation of last wills and testaments and selection of proper financial instruments. The actions undertaken by our Law Office mainly cover the legal audit of the situation of entrepreneurs and partners or the company itself.
In this regard, we inspect corporate documents, commercial agreements entered into, loan and lease agreements, as well as insurance policies and last wills and testaments.
Our report becomes the basis for planning and undertaking further steps towards the transfer of management over the enterprise or its securities in the event of accidents.
Following the audit, the succession plan is established, which specifies the objectives and legal instruments allowing to achieve them. The last stage is the implementation of the entire structure. At this stage, KRS Lawyers prepares all required documents and aids the Client in performing notarial acts by acting as attorney-in-fact during registration proceedings.
The aspect of succession is inextricably associated with representing entrepreneurs in succession cases. In this respect, we represent our Clients in succession, family and apportionment cases, which involve the determination of the scope of assets to be divided among heirs of the entrepreneur and the settlement of these assets.