Succession/Estate Planning Solicitor Dublin
Blanchardstown, Castleknock, Dublin City Centre
Succession/Estate Planning Experts | Carmody Moran Solicitors
As your business grows, expands and takes flight, priorities change, and as a business owner you have to look to the future. Protect against future risks such as managing your arrangements for future legal life planning by putting in place a Will, succession planning, and an Enduring Power of Attorney.
For example how will your business continue and thrive in the event of the retirement of a key team member, a sudden death, or unexpected departure.
Your succession planning is likely to require legal and tax input from both your legal advisor and your tax advisor, as well as business continuity planning, it goes without saying that the earlier these arrangements are planned and put in place, the better protected your business and your investment. This is likely to involve careful consideration of legal, financial, and operational factors, as well as discussions and communications with key people who are likely to be involved in a continuity process. It is important your plans are realistic, take into account not just your needs, hopes, desires, and investment, but also to ensure that your plan complies with all relevant laws and regulations, and that it is realistic to meet your objectives.
To arrange a consultation at Blanchardstown or Dublin City Centre call us today on 018272888 or email [email protected] and our expert estate planning and commercial business solicitor team will be available to assist.
At Carmody Moran Solicitors, our team of experienced Commercial Law Solicitors is dedicated to providing comprehensive legal services across a range of practice areas including Commercial Law. Whether you require assistance with Commercial Litigation, Commercial Property Sales, Commercial Property Purchase, Commercial Leases, Commercial Re-Financing, Shareholder’s Agreements, Employment Law, or Succession and Estate Planning, we have the expertise to support your business needs. Helping you gain your business goals is our priority. Talk to us!
Frequently Asked Questions of our Succession/Estate Planning Solicitors in Dublin, Ireland
What is the purpose of Succession/Estate Planning?
Without a clearly designated plan, what would happen to your business is something happened to you? Who would have legal authority to make decisions that would impact operations of the company? Who could access your bank accounts if you were incapacitated? Estate planning or future legal life planning is to be recommended for all individuals but particularly those who operate a business or who are self employed. Proper planning will ensure not only the continuity of operations, give legal authority to a person(s) who you select to sign legal paperwork on your behalf, and it will protect your best interests and those of your family and beneficiaries. From a business perspective it will give clarity on a smooth transition of leadership, be that temporary only, it will minimise conflict, and maintain tax, cost, and time effeciencies. It is a proactive strategy and enables you provide a roadmap for your future and your business protecting you both financially and personally. For expert legal advice with common sense guidance, arrange to meet our expert solicitors at Carmody Moran who will guide you through your options and considerations.
What is the role of an estate planning solicitor in commercial succession?
An estate planning solicitor specialising in commercial succession assists business owners in creating comprehensive plans for the transfer of assets and ownership. They help navigate complex legal and tax considerations, draft succession agreements, and ensure the business is protected during transitions.
How can I protect my business assets through estate planning?
Estate planning for commercial businesses involves various strategies to protect assets, such as creating trusts, buy-sell agreements, and insurance policies. An experienced solicitor can tailor these solutions to your specific business needs and goals.
Are there specific tax implications associated with commercial estate planning?
Yes, commercial estate planning involves various tax considerations, including inheritance tax and capital gains tax. A knowledgeable solicitor can guide you in minimizing tax liabilities and maximizing the tax-efficient transfer of assets.
What are the common challenges faced during commercial succession planning?
Common challenges in commercial succession planning include identifying suitable successors, addressing potential conflicts among stakeholders, and ensuring a fair and equitable distribution of assets. An estate planning solicitor can help address these challenges and provide practical solutions.
Can commercial estate planning help prevent disputes among business partners?
Yes, a well-crafted commercial estate plan can include provisions to address potential disputes, such as buy-sell agreements or shareholder agreements. These documents outline how ownership interests will be handled in case of disagreements or the departure of a partner.
What happens if a business owner dies without a succession plan in place?
If a business owner dies without a succession plan, the business’s future may be uncertain. It could lead to internal conflicts, loss of value, and potential legal battles. Having a comprehensive estate plan in place helps ensure a smooth transition and safeguards the business’s continuity.
How often should I review my commercial estate plan?
It is advisable to review your commercial estate plan regularly, especially when significant changes occur, such as changes in ownership, business structure, or tax laws. A periodic review with your estate planning solicitor ensures that the plan remains up-to-date and aligned with your business’s evolving needs.
Can a commercial estate plan address both family and business considerations?
Yes, a well-designed commercial estate plan can address both family and business considerations. It can incorporate provisions for family members involved in the business, as well as those who may not have active roles while ensuring a smooth transition and equitable distribution of assets.
How do I find a reputable estate planning solicitor for my commercial business in Ireland?
To find a reputable estate planning solicitor specializing in commercial succession, consider seeking recommendations from other business owners, researching online reviews, and conducting interviews with potential solicitors to ensure they have the necessary expertise and experience in commercial estate planning.
Your Expert Commercial Law Legal Team in Blanchardstown
At Carmody Moran Solicitors in Blanchardstown our experienced commercial law are on hand to advise and skilled in handling all nature of commercial law in Dublin.
The two partners of Carmody Moran Solicitors in Blanchardstown have a combined total of in excess of twenty five years professional legal experience. Together with their associates they aim to make the Court process as straight forward and navigable as possible while being on hand to alleviate their clients concerns and worries about going through the Court process.
Jim Downing is a senior member of the team at Carmody Moran Solicitors LLP. He has significant legal experience gained working with private client firms in Dublin before joining the team.
He is a highly skilled commercial conveyancer with broad Commercial Law expertise. He has a wealth of knowledge from his twenty years plus experience working in the legal field making him a private client specialist including the Commercial Property Sales practice area having handled literally thousands of cases on behalf of clients based in Dublin, Ireland & abroad.
Niamh Moran is one of the founding partners of Carmody Moran Solicitors and is a solicitor with wide-ranging experience across all areas of general practice.
Niamh manages the family law, conveyancing in Dublin, and probate divisions of the practice as well as Commercial law in the practice area of Commercial Property Sales. Niamh’s practice of law is extremely varied and she is regularly sought out for her expertise by clients and colleagues alike.
*While we have made every effort to provide accurate information, the law is always changing and it affects each person differently. This information is not a substitute for specific advice about you personally and it is not intended as legal advice. We will not be liable to you if you rely on this information. In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement. This statement is made in compliance with Reg.8 of SI 518 of 2002.
You should note that no solicitor/client relationship or duty of care or liability of any nature shall exist or be deemed to exist between Carmody Moran Solicitors and you until you have received a written letter of engagement from us in which we confirm our appointment as your Solicitors.
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