In our insight this month, Jérôme Stern discusses family succession and the importance of making hard decisions and taking the right risks for families, trustees and charities.
Over the last few months, we have seemingly coincidentally been approached by a number of current and prospective clients who are dealing with succession issues. But is it really a coincidence? We think not. Succession is for every family, in any geography, in virtually any industry, the most difficult topic of all to deal with, let alone solve, and sometimes even to discuss amongst family members and outside stakeholders. The issues are so multi-faceted and have such far-reaching consequences, to be felt for generations to come, that it is virtually a full-time job to discuss, understand and to resolve.