Balancing the needs of children
Some families are complicated.
This can cause problems when one partner dies and the assets are inherited not just by the surviving spouse, but also by children from this and from previous relationships.
Conflict often arises as each person has different objectives. Sometimes the surviving spouse is left in an emotional and financially stressful situation during what is already a very challenging time.
We can provide solutions that remove this stress while allowing you to develop a plan that is fair to all.
Protecting Family Assets
If you are in business or if for some other reason there is a possibility that someone might sue you or otherwise try to attack you financially, it is important to take steps to protect your family.
An asset protection trust is a very standard tool used by business people throughout the world. It ‘builds a wall’ around your important family assets including your home and your cottage. Even if you do end up in bankruptcy, your family assets will be kept safe – protected for the benefit of your family.
In this way you can sleep a little easier knowing that, even if the worst happens, your family’s future is more secure.
Skipping generations
Sometimes parents don’t want their assets to go to their children.
There could be many reasons for this. Perhaps the children already have enough money of their own, perhaps the children are financially irresponsible, or have problems with relationships, with gambling, or with addiction.
In these cases we can help you ‘skip’ a generation – ensuring your children are properly provided for, but making sure that most of your wealth ends up in the hands of your grandchildren.
Passing Business to Children
Sometimes your children are not the best people to run your family business after you retire. We can help you ensure that your children receive all the financial benefit of owning your family business but prevent them from managing or controlling your company.
Instead you can leave the management of your business in the hands of the professional independent managers of your choice.
Family Dynasty
Some names are familiar; Rothschild, Murdoch, Agnelli, Getty, Rockefeller. Others are less well-known. But you don’t need to be as wealthy as the Rothschilds to set up a dynasty trust. It’s enough that you have created business wealth during your lifetime that’s substantial enough to be worth protecting for future generations.
We can help you pass on accumulated family wealth and business assets so that that are preserved and can continue to grow, and be passed downwards, not just to one, but to many subsequent generations.
Caring for Cottages
We can set up an ownership structure for your family recreational property that ensures your family will always be able to enjoy it, but which at the same time removes the potential for conflict and confusion that seems to be inevitable as ownership is divided between children, grandchildren and great grandchildren, all of whom have different priorities and interests in life.
Of course these are just some of the ways we can help – there are many more. We work with you first to listen and understand, we offer ideas and solutions and once we are in agreement, we put those solutions into action.
How does it work?
First, contact us to arrange a meeting. If you meet with us to find out if a trust can help you or because you are considering setting up a trust, that meeting is always free of charge and without obligation..
We will work with you to be certain that we have a very complete and accurate picture of your situation and a very precise understanding of your goals and objectives. Based on this information we will tell you if we are able to help.
We will then ask you to sign an agreement engaging us to prepare a solution for you. We will use all the tools available to us; wills, inheritance contracts, Czech companies and trusts, and other structures. (In some more complex cases we may recommend the use of offshore structures). Our fee includes working with our qualified and experienced legal specialists to prepare the legal documents you need to implement your solution.
Once you are happy to proceed, we will organise a meeting with a notary to sign the documents – which we will of course attend with you.
If your solution is a Czech trust, we can also assist you by finding experienced partners to help you with trust administration, tax, and accounting services.
