Family Estate Planning
Estate planning is a legal process of deciding what should happen to your estate or assets in your die or become incapacitated, and taking requisite legal set to ensure that your decisions are effectuated. It includes the process of anticipating and arranging, during a person’s life, for the management and disposal of that person’s estate during the person’s life and at and after death, while minimizing potential management or tax exposures.
I have an experienced team of professionals who can assist you in all matters or issues related to estate planning as well as in probate and administration matters in accordance with the Kenya Succession Act related to estate planning as well as probate and administration.
Our services offerings include:
- Drafting of a Family Constitution;
- Drafting of a Shareholders’ agreement in line with IFC Handbook on Family Owned Businesses;
- Aligning your company’s Memorandum and Articles of Association to the shareholders’ agreement;
- Transfer of family properties to a family holding company (for ease of administration and tax efficiency) and procuring the requisite tax exemptions on transfer of family properties such a vehicle;
- Creating of an effective group structures (where there are more than one companies);
- Company secretarial issues;
- Corporate governance advisory;
- Executive Managers/directors’ contracts and their remuneration structure including HR Manual;
- Wills and family trusts;
- Set up of a Family foundation or Charity;
- Planning and executing a Succession Planning Strategy.
- Succession Planning
Why come to think with us?
And as if the business, emotional, legal and technical issues weren’t thorny enough, consider this daunting fact: only about 30 percent of family businesses survive into a second generation.
As shy as many families may be to tackle the issue of succession planning, the health and longevity of a family business depend on a well-executed succession planning – developing a robust plan and communicating the results to the right stakeholders in a timeous manner. Doing so will increase the likelihood of your business enduring beyond the leadership transition, delivering lasting value to your family.
Why come to think with us:
Succession Plan and Strategy
We have a professional legal and business-minded team dedicated to helping family business owners develop an effective succession plan. Further, we shall also assist you in each step in the execution of the plan, so that the whole process runs as smoothly and efficiently as possible.
Sale of the business.
If a sale is the best option, we work with you to get the best price for your business by identifying the right buyer, while respecting your confidentiality.
Succession planning is one area where your leverage tends to diminish with time. The decisions you make will affect the future of your business, customers, employees, community and, most importantly, yourself and your family. Therefore, it is often wise to solidify a business succession plan sooner rather than later.
We invite you to contact us to explore how we can help you turn your biggest challenge into one of your biggest opportunities by creating a legacy of success.
By Cyrus Maina