Family succession as a shareholder and/or business manager
Succession within the family is often an emotional and business matter. Do you want to transfer the business to your children or other family members? In addition to tax and legal aspects, there are also relational sensitivities to consider. How do you prepare the next generation? How do you avoid discussions about ownership, management or distribution? And how do you guarantee continuity without letting go of your life's work? Family succession requires time, dialogue and a tailor-made plan.
Recognizable situations
Situations you recognize, answers that help you move forward.
When several family members are shareholders, it is important to make clear agreements about roles, rights and expectations. Not every shareholder is active in the company, and not everyone has the same vision on profit distribution, investment or involvement.
By discussing these differences in good time, you can prevent tensions and uncertainty. A shareholders' agreement and, if necessary, a family charter can help to lay down these agreements. You can determine who has control, how decisions are made and how you deal with conflicts or the sale of shares. Do you want to maintain harmony within the family and the company? Then it is worthwhile combining open communication with a clear legal structure.
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Family succession often has tax consequences, especially when shares are gifted or inherited. In Flanders, there is a favourable regime for the transfer of family businesses, whereby, under certain conditions, a greatly reduced or even zero inheritance or gift tax applies.
However, to benefit from this regime, you must meet specific conditions, such as maintaining the activity for a certain period of time. The structure of your company and the role of the transferor also play a role. Do you want to avoid surprises? Then it is essential that you seek advice in good time and approach your succession in a systematic manner.
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A transfer of shares within the family touches on various legal areas. You must take into account the company's articles of association, any shareholder agreements and inheritance law. Certain family members may feel disadvantaged if everything is not done in a legally correct and transparent manner. Provisions regarding approval of the transfer, pre-emptive rights or blocking clauses may also play a role.
Do you want to avoid family tensions and ensure the continuity of the company? Then it is crucial to provide a sound legal basis for the transfer and to inform all parties involved correctly. A well-considered approach strengthens confidence in the transition and prevents discussions afterwards.
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Would you like to involve family members in your company but need guidance on how to do it effectively? The key is to establish clear agreements and have open conversations about roles, expectations and talents. Involvement doesn’t always have to be operational — a family council, advisory board or governance role can also add significant value.
By setting transparent arrangements around career paths, compensation and evaluation, you can prevent tensions and build trust. Independent advice helps separate emotions from business decisions. In this way, you strengthen the family’s commitment and lay the groundwork for a sustainable future for your company.
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Other important moments
These topics will help you think, plan and grow further
Other important moments
These topics will help you think, plan and grow further
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