Succession Planning

[vc_row][vc_column][vc_column_text]One of the biggest challenges faced by Indian promoter families is that of succession. Need for succession planning is not only relevant in case of family business but becomes imperative for planning succession of any type of family wealth. Family dispute and rifts are something popular world over and so in India because of joint family system of business.

A well-planned structure, which can ease the issues surrounding family succession, is therefore the need of the hour. Such planning also facilitates a clear succession plan for the family wealth, thereby ensuring that such wealth is protected, preserved, and passed onto future generations in the intended manner.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column css=”.vc_custom_1624103562203{border-right-width: 25px !important;padding-top: 0px !important;padding-bottom: 15px !important;padding-left: 25px !important;}” el_class=”section-heading about-head text-center mb-5″][vc_custom_heading text=”A TYPICAL INDIAN BUSINESS WHICH IS FAMILY RUN HAS THREE ASPECTS :” font_container=”tag:h2|font_size:30px|text_align:center|color:%23043167|line_height:35px” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row][vc_column width=”1/3″ el_class=”sppb-addon-text-block” css=”.vc_custom_1624103668331{border-right-width: 25px !important;padding-top: 0px !important;padding-bottom: 15px !important;padding-left: 25px !important;}”][vc_column_text el_class=”sppb-addon-content”]One owner who completely controls the business.[/vc_column_text][/vc_column][vc_column width=”1/3″ el_class=”sppb-addon-text-block ” css=”.vc_custom_1624103692506{padding-top: 0px !important;padding-right: 25px !important;padding-bottom: 15px !important;padding-left: 25px !important;}”][vc_column_text el_class=”sppb-addon-content”]Next generation joins the business and control different aspect of business. There is tension among sibling over power and fairness requiring building professional system.[/vc_column_text][/vc_column][vc_column width=”1/3″ css=”.vc_custom_1624103700473{padding-top: 0px !important;padding-right: 25px !important;padding-bottom: 15px !important;padding-left: 25px !important;}” el_class=”sppb-addon-text-block”][vc_column_text el_class=”sppb-addon-content”]Family becomes larger and cousins join the business requiring redefining family mission, strategy and investments.[/vc_column_text][/vc_column][/vc_row]