Family + Business Diagnostic Lab

Solutions

Succession planning

Family & Individual Wealth

For businesses and families alike, succession planning is fundamental to ensuring the future of wealth and its governance is appropriately provided for. Succession of family-owned companies and personal wealth attract the additional challenges around personal issues and family dynamics. An early start to the succession process is often the key to success.

For a business, working without a succession plan can invite disruption, uncertainty and conflict, placing future competitiveness and wealth at risk. For family-owned companies and personal wealth, the issue of succession also introduces deeply personal issues and family dynamics – which may include non-employee family members and stakeholders.

Getting it right can be a complex process. That’s why when it comes to effective succession planning, an early start can often be the key to success.

It’s perfectly natural to need support to get started. Which is why Deloitte Private’s proven experience and approach to succession planning has supported some of New Zealand’s wealthiest families and individuals to plan for their future.

Our work with you on succession planning

We work in partnership with you to strengthen your legacy as it passes from one generation to the next by:

  • Understanding the needs and drivers of the family and the business
  • Facilitating communication so that people speak honestly with each other about their aspirations and goals within the succession planning process
  • Considering possible short term ‘emergency succession requirements’ as well as a longer term plan
  • Creating a clearly articulated succession plan tailored to the personalities and circumstances of your family and business
  • Addressing Intergenerational Wealth Transfer and family governance
  • Next generation education and leadership development.

Succession planning needs to be carefully tailored to every situation - whilst the principles are similar, personalities and circumstances vary greatly. Contact us to find out more.
 

Published: November 2017

Get in touch

Joanne McCrae

Joanne McCrae

Partner - Deloitte Private

What I most enjoy is working with my clients to ensure I understand both their personal and business drivers and challenges and then guide them in managing their affairs accordingly.  I take pride in ... More

Phil Stevenson

Phil Stevenson

Partner

I really enjoy working alongside my clients to understand what is important to them – both from a business and personal perspective. This allows me to give practical advice that is tailored to their n... More