RYAN & HICKEY

CHARTERED ACCOUNTANTS & REGISTERED AUDITORS

Retirement & Succession Planning

The successful transition of the business to the next generation is a major issue for family businesses. Neglect in the area of succession planning can cause severe hardship and expense on surviving families and next of kin. We can help you avoid this through timely planning.

Some things to consider:

  • The early transfer of wealth is an important part of any succession strategy.
  • If it is proposed that there will be a transfer of business assets or family company shares within your family, you should consider bringing forward these plans so that the tax reliefs that are currently available can be maximised.
  • With the substantial reduction in the value of all assets in Ireland due to the recession, there is an unprecedented opportunity to look at the valuation of assets to be transferred.

 

An agreed plan will provide for the following:

  • A structured handover of business assets
  • Make provision for the retirement of family members
  • Advise on a tax-efficient succession plan for other assets