PRACTICE AREAS

LOGOS always deals with legal matters promptly all clients.

Strong and trusted law firm to the world
  • LOGOS 공증
  • 가업승계지원센터
  • 특허법인 C&S
  • 특허법인 C&S
HOME > Practice Areas > Support center for Family law/Inheritance
LOGOS Members

Saerch
Support center for Family law/Inheritance

Logos is always with clients in a quick, accurate, and friendly manner when it comes to dealing with cases.
 What is Family business succession?

It indicates transferring ownership and management rights from the present businessman or CEO to the next generations in order to continue the management situation of corporations and all related matters; the successful family business succession is the last assignment of a successful CEO who plays a pivotal role in national economy, such as creation of jobs, innovations in techniques, and improvement of national power.

The research center for family business succession of our law firm, Logos, supports clients in order to be continuously developed into be a long-lived company in the world and to make a stable and successful succession throughout inheritance including family business succession by managing support program which is differentiated from existing advice, long-term, and professional.

 Process and Support Program

Consultation Reflect current CEO’s plan
Diagnosis Review an efficient succession planning through diagnosing legal, financial, accounting issues, and risk management
Master plan Build a robust succession planning program depending on the timeframe including methods of business succession and timing
Action plan Create specific action plan by year based on a master plan
Check/Modification Supplement legal, taxation, accounting issues, and risk management through quarterly and yearly inspection
Completion of succession Assist the successors to operate an entity independently and develop an entity into a permanent firm

 Main Content

Review legal issues, devise a plan and execute plan - Take legal action to avoid any conflicts stemmed from a family relationship and family business succession
- Take legal action to avoid any conflicts between internally externally interested parties of succession company
Review financial issues, devise a plan and execute plan - Provide financial solutions to create an efficient succession environment
- Manage entity’s finance to minimize tax strategically
Review taxation issues, devise a plan and execute plan - Carry out the financial solutions
- Resolve tax disputes to negotiate with the authorities concerned
Review risk management issues, devise a plan and execute plan -Provide risk management planning services to support family business succession
- Project any probable risk that could be incurred during business succession

 Important check list

1. Share values and long term plan between current owners and successors.
2. Set up effective communication channels between family members and align their interests.
3. Communicate between succession company’s internal and external interested parties.
4. Build a long term succession planning program.
5. Build a specific plan to achieve long term goals.
6. Make sure a group of professionals are in place.
7. Devise a counterplan in case of any unexpected situations.
8. Devise a plan for completely financial independence and retirement.
9. Devise a plan to select competent successors and a viable business plan.
10. Devise a plan to handle taxation and financial issues after business succession.

 Center Contact

- Lawyer Jeong-goo Yeo (a director of Family Business Succession center)
- Phone : (02)2188-1015- Fax : (02)2188-1094
- Email : jkyeo@lawlogos.com