FAMILY BUSINESS SUCCESSION: CASE STUDY 2
Securing a Blended Family’s Succession with a Cyprus Law Trust
MP and GK are a married couple in their mid-60s with a combined estate of €10 million. MP has two adult children from a previous marriage, GK has one child, and together they have two children. They also run a family business together, which employs 25 people. Both are deeply committed to supporting their children and grandchildren.
MP and GK feared that disagreements over business control and inheritance could strain family relationships and disrupt the family businesses’ operations. They were also worried about potential delays after their passing due to the blended nature of their family.
MP and GK established a Cyprus law trust to manage their assets and succession, allowing them to place the family business under the trust, specify beneficiaries clearly and as per their wishes, and protect minor (grandchildren) and vulnerable (MP’s elderly mother) family members ensuring support over time.
By planning proactively with a Cyprus law trust, MP and GK secured a clear, controlled and immediate succession plan. All arrangements were private, allowing the family to avoid forced heirship rules, court proceedings and public disclosure.
Your legacy, your choices. Shape your family’s future today.
At A. KOULOUNDI & CO. LLC, we can assist families in navigating both the advisory and legal aspects of succession, ensuring a smooth transition while protecting legacy, relationships, and business continuity.