Succession planning is the term used in business for developing a strategy for transference of leadership.
In family businesses, this could mean determining which member or members of the next generation will succeed as owners and managers when the company founder or current owner retires or passes away.
A succession plan is not limited to family – many business owners plan for their retirement by transferring ownership to employees or outside management.
The jury system originated in England but is now used in many other countries worldwide.
Read more: https://medium.com/@dredgarpaltzer/the-three-main-types-of-dispute-resolution-6f6676088cd5
There are a handful of legal systems and jurisdictions that have adopted a hybrid or mixed approach.
Read more: https://medium.com/@dredgarpaltzer/a-comparison-between-common-and-civil-law-e7d9402bd7fe
Affluent Neglect: Spotting the Signs and Engaging with ParentsDr Edgar Paltzer
There are a number of signs that could indicate a child is suffering from affluent neglect.
Read more: https://www.dredgarpaltzer.com/the-increasing-incidences-of-succession-syndrome-among-wealthy-families
Dr Edgar Paltzer - Dispute Resolution Tips for Achieving a Successful OutcomeDr Edgar Paltzer
Dispute resolution is an alternative to litigation that can help resolve conflict without the cost and time involved in going to court. Dispute resolution is most commonly used in civil cases where there are no criminal charges. Mediation and arbitration are two of the most common types of alternative dispute resolution. With both these, the involved parties work together with a neutral third party to try and reach the best conclusion for all. The key difference is the decision of an arbitrator is legally binding, while a mediator can only make suggestions.
Dr Edgar Paltzer provides tactical and strategic negotiation support in disputes as part of his legal practice. Whichever method of alternative dispute resolution you choose, these tips can help you to achieve a successful outcome.
Dr Edgar Paltzer - The Queen’s Succession Plan and What Family Offices Can Le...Dr Edgar Paltzer
The passing of Queen Elizabeth II led to a new reign in the UK after more than 70 years under the same monarch. As King Charles III takes the throne, family offices everywhere can learn from a succession plan that has been in the making for almost three-quarters of a century.
Succession planning is the process of identifying successors and preparing them to take the reins once you are gone. In business this could be preparing for retirement or, within a family office, preparing for what will happen when you pass away.
Dr Edgar Paltzer provides succession planning services for family establishments as part of his law practice.
Read More: https://www.dredgarpaltzer.com/the-queens-succession-plan-and-what-family-offices-can-learn-from-it/
This type of mediation focuses on providing the parties in dispute with an evaluation of their case and directing them towards a settlement.
Read more: https://www.dredgarpaltzer.com/the-rise-in-cases-of-mandatory-mediation
Probate is a legal process during which a deceased person’s assets are divided among their beneficiaries and heirs, according to their will and the relevant country or jurisdiction’s laws.
Read more: https://www.dredgarpaltzer.com/how-to-plan-an-inheritance/
There is much more to effective estate planning than simply drafting a will, with several other steps required to ensure assets are transferred to the desired beneficiaries smoothly.
Read more: https://medium.com/@dredgarpaltzer/creating-an-estate-plan-b4f27d195c65
The jury system originated in England but is now used in many other countries worldwide.
Read more: https://medium.com/@dredgarpaltzer/the-three-main-types-of-dispute-resolution-6f6676088cd5
There are a handful of legal systems and jurisdictions that have adopted a hybrid or mixed approach.
Read more: https://medium.com/@dredgarpaltzer/a-comparison-between-common-and-civil-law-e7d9402bd7fe
Affluent Neglect: Spotting the Signs and Engaging with ParentsDr Edgar Paltzer
There are a number of signs that could indicate a child is suffering from affluent neglect.
Read more: https://www.dredgarpaltzer.com/the-increasing-incidences-of-succession-syndrome-among-wealthy-families
Dr Edgar Paltzer - Dispute Resolution Tips for Achieving a Successful OutcomeDr Edgar Paltzer
Dispute resolution is an alternative to litigation that can help resolve conflict without the cost and time involved in going to court. Dispute resolution is most commonly used in civil cases where there are no criminal charges. Mediation and arbitration are two of the most common types of alternative dispute resolution. With both these, the involved parties work together with a neutral third party to try and reach the best conclusion for all. The key difference is the decision of an arbitrator is legally binding, while a mediator can only make suggestions.
Dr Edgar Paltzer provides tactical and strategic negotiation support in disputes as part of his legal practice. Whichever method of alternative dispute resolution you choose, these tips can help you to achieve a successful outcome.
Dr Edgar Paltzer - The Queen’s Succession Plan and What Family Offices Can Le...Dr Edgar Paltzer
The passing of Queen Elizabeth II led to a new reign in the UK after more than 70 years under the same monarch. As King Charles III takes the throne, family offices everywhere can learn from a succession plan that has been in the making for almost three-quarters of a century.
Succession planning is the process of identifying successors and preparing them to take the reins once you are gone. In business this could be preparing for retirement or, within a family office, preparing for what will happen when you pass away.
Dr Edgar Paltzer provides succession planning services for family establishments as part of his law practice.
Read More: https://www.dredgarpaltzer.com/the-queens-succession-plan-and-what-family-offices-can-learn-from-it/
This type of mediation focuses on providing the parties in dispute with an evaluation of their case and directing them towards a settlement.
Read more: https://www.dredgarpaltzer.com/the-rise-in-cases-of-mandatory-mediation
Probate is a legal process during which a deceased person’s assets are divided among their beneficiaries and heirs, according to their will and the relevant country or jurisdiction’s laws.
Read more: https://www.dredgarpaltzer.com/how-to-plan-an-inheritance/
There is much more to effective estate planning than simply drafting a will, with several other steps required to ensure assets are transferred to the desired beneficiaries smoothly.
Read more: https://medium.com/@dredgarpaltzer/creating-an-estate-plan-b4f27d195c65
Succession Planning Best Practice: Making the Most of TechnologyDr Edgar Paltzer
Recent developments in the software solutions space can be used to make the talent management element of succession planning easier than ever before.
Read more: https://medium.com/@dredgarpaltzer/how-to-effectively-undertake-succession-planning-22d69b98d6f7
A private foundation is typically used to distribute money to charities and other non-profit organisations. It is often used by people who wish to donate a proportion of their wealth and enjoy the tax benefits of doing so. Private foundations are by nature non-profit and tax exempt.
Estate planning is the term used to describe multiple tasks undertaken in life to manage the asset base of an individual following their death or incapacitation. This includes determining how these assets will be divided, as well as strategies for reducing the tax burden on beneficiaries.
A mediator is a specialist in helping others to resolve disputes. Some mediators may be legal professionals, while others may be trained negotiators working outside the court systems. However, all will have expert legal knowledge in their areas of practise.
In seasons of humanitarian crisis (such as drought or war), many people want to help those affected. Depending on the nature of the issue, there are different organisations that have positioned themselves to help those in need, and are the likely avenue that people will want to use to help.
In the simplest terms, retirement planning is easy to understand; it is planning for life after retirement. However, there are multiple aspects of retirement planning to consider and having a strong plan in place can help ensure that you are able to continue in the lifestyle you are accustomed to after you stop working.
Knowing who to contact when you need legal representation can be confusing. The term ‘lawyer’ is really an umbrella term used to describe anyone licensed to practise law. Solicitors and barristers are both forms of lawyer who have different responsibilities.
The terms philanthropy and charity are often used interchangeably, and they are indeed very similar. However, there are subtle differences between the two.
While both address need, charity tends to deliver short-term solutions in direct response to a crisis, while philanthropy has a focus on addressing the underlying issues that cause crises to occur.
HNWI – High-net-worth individuals are generally defined as those that have a minimum of US$1 million in financial assets once the value of their primary residence has been discounted
Succession Planning Best Practice: Making the Most of TechnologyDr Edgar Paltzer
Recent developments in the software solutions space can be used to make the talent management element of succession planning easier than ever before.
Read more: https://medium.com/@dredgarpaltzer/how-to-effectively-undertake-succession-planning-22d69b98d6f7
A private foundation is typically used to distribute money to charities and other non-profit organisations. It is often used by people who wish to donate a proportion of their wealth and enjoy the tax benefits of doing so. Private foundations are by nature non-profit and tax exempt.
Estate planning is the term used to describe multiple tasks undertaken in life to manage the asset base of an individual following their death or incapacitation. This includes determining how these assets will be divided, as well as strategies for reducing the tax burden on beneficiaries.
A mediator is a specialist in helping others to resolve disputes. Some mediators may be legal professionals, while others may be trained negotiators working outside the court systems. However, all will have expert legal knowledge in their areas of practise.
In seasons of humanitarian crisis (such as drought or war), many people want to help those affected. Depending on the nature of the issue, there are different organisations that have positioned themselves to help those in need, and are the likely avenue that people will want to use to help.
In the simplest terms, retirement planning is easy to understand; it is planning for life after retirement. However, there are multiple aspects of retirement planning to consider and having a strong plan in place can help ensure that you are able to continue in the lifestyle you are accustomed to after you stop working.
Knowing who to contact when you need legal representation can be confusing. The term ‘lawyer’ is really an umbrella term used to describe anyone licensed to practise law. Solicitors and barristers are both forms of lawyer who have different responsibilities.
The terms philanthropy and charity are often used interchangeably, and they are indeed very similar. However, there are subtle differences between the two.
While both address need, charity tends to deliver short-term solutions in direct response to a crisis, while philanthropy has a focus on addressing the underlying issues that cause crises to occur.
HNWI – High-net-worth individuals are generally defined as those that have a minimum of US$1 million in financial assets once the value of their primary residence has been discounted
Regional Distribution of Ultra-High-Net-Worth Individuals
Business: Defining Succession Planning
1. B u s i n e s s :
DefiningSuccessionPlanning
b y D r E d g a r P a l t z e r
2. 2
Defining Succession Planning
Succession planning is the term used in business for deve-
loping a strategy for transference of leadership.
In family businesses, this could mean determining which
member or members of the next generation will succeed
as owners and managers when the company founder or
current owner retires or passes away.
A succession plan is not limited to family – many business
owners plan for their retirement by transferring ownership
to employees or outside management.
BUSINESS:
The primary goal
of a succession
plan is to maintain
operations following
retirement through
selecting new
leaders.
3. 3
Continued
Operations
The primary goal of a succes-
sion plan is to maintain ope-
rations following retirement
through selecting new leaders.
The aim of a succession stra-
tegy is to ensure the company
continues to operate smoothly
even after the current owner
steps down. Choosing the right
successor is only part of the
strategy.
Training and
Development
One key aspect of a succes-
sion plan is the training and
development of family mem-
bers or employees to ready
them for their new leadership
responsibilities in advance.
This helps the potential new
leaders to develop the skills
and business acumen requi-
red to guide the company
through its next stage of life.
One key aspect of a
succession plan is the
training and development
of family members or
employees to ready them
for their new leadership
responsibilities in
advance.
4. You can learn more about
how succession planning
forms part of the longevity of
a family business by visiting
the blog of Dr Edgar Paltzer.