PETERS, SCHÖNBERGER & PARTNER Expertise for family businesses and entrepreneurs Legal Advice Audit Tax Advice Family Office
Family enterprises play a significant role in Germany. Characterised by normally close ties between the business and its owners, they generate nearly one half of all business revenues. Personal commitment and cross-generational entrepreneurship create the basis for long-term success. We have been advising family enterprises for over 35 years normally across several generations. Your particular requirements in tax and legal matters have become a personal concern of ours.
PSP partner for family businesses and entrepreneurs As an entrepreneur and family business owner, you bear a particular responsibility, as many of your decisions affect you, your family and your business in equal degrees and therefore your employees as well. However, how can your personal views be aligned with those of your family and how do you secure, on a lasting basis, the future of your business without creating conflicts within the family or with the management team? These are key questions that you have to consider when making decisions as an entrepreneur or as a partner or shareholder in a family business regardless of whether you are actively involved in managing the business or whether you provide assistance as a member of a supervisory board, an advisory board or as partner or shareholder. The excellent know-how of our experienced tax and legal experts and auditors can help you answer these questions. This also applies to interdisciplinary issues that are significant for many family businesses. Examples are growth, funding and profit distribution questions, choosing a suitable legal form, developing succession arrangements and creating a system of family business governance that represents the interests of very diverse family shareholders or partners and lends continuity and credibility to the business. We develop holistic solutions and secure the success of your business and at the same time strengthen family cohesion.
The business and the family are always in focus.
We create the legal basis Having a solid legal basis is crucial to the lasting success of many family enterprises. For this reason, advice on corporate law is one of PSP s main areas of activity. Thanks to the experience we have gained over many years, we are able to offer you first-class expertise in this field. This ranges from choosing the most suitable legal form, integrating managing directors to devising appropriate succession solutions. Many legal issues that affect you as an entrepreneur also involve matters relating to tax and commercial law. Our lawyers therefore always work closely with the experienced tax consultants and auditors in our firm to find the best possible solution for you. Family business governance is a significant issue especially for businesses owned by several family shareholders or partners or family lines with differing roles as family member, entrepreneur and owner. Working with you, we draw up a suitable family model that takes account of the interplay between family, ownership and business and we put this securely into effect contractually. It is only on the basis of targeted communication, clear rules on dealings between family shareholders or partners and fair processes that conflicts can be prevented and approaches developed to resolve disputes in a constructive manner. If necessary, we also act as mediators between different family lines to secure the cohesion within the family that is important for your business future on a lasting basis.
Examples of our advisory expertise Devising succession and transfer models Tax-efficient transfer plans Choosing a suitable legal form Setting up a system of family business governance Structuring asset transfers under family and inheritance law Advising on disputes between partners/ shareholders Mediating between family lines Advising individual partners/ shareholders Advising members of supervisory, advisory and management boards Legal advice concerning all real estate issues A system of family business governance with professional and fair rules keeps the family together.
Tax expertise for entrepreneurs With its numerous exceptions and special provisions, the German tax system presents you, as an entrepreneur and family business owner, with ever changing challenges. This is especially true if your business and your private wealth have acquired a certain level of complexity or if several family members are involved in the business. Drawing on our comprehensive experience in national and international tax law, we work with you to devise tax solutions that take account of your private wealth interests and secure your company s long-term success. Especially in cases in which business property represents a significant part of your investments, you should consider making succession arrangements at an early stage. As a specialist in wealth and succession planning, we help you make the correct decisions. We are not only fully conversant with tax and legal details. We also know how conflicts in this sensitive area can be avoided in a pragmatic manner. In doing so, we take account of personal and family aspects as well as of the effects under civil law and tax and business repercussions. And of course, we also keep in mind cross-border matters along with all the issues they involve.
Examples of our advisory expertise Advising family businesses in ongoing tax matters Individual tax planning calculations Providing tax advice on the choice of legal form Drawing up recommendations on business structuring Business succession Tax issues involved in moving into or leaving Germany Compliance advice Advice concerning special IT audits Tax law on corporate reorganisations Representation before the tax authorities Tax creativity to help you implement your ideas.
Auditing for family companies, corporate finance advice As soon as management and ownership are separated, all shareholders or partners want precise information that provides a realistic and exact picture of the state of the business. For important decisions, valid and above all unfiltered data, are often the key added value. As auditors of separate and consolidated financial statements elected by family shareholders or partners, we offer you an unusually responsible form of partnership. With our audit approach geared specially to family businesses, we are guided by your particular concerns, which we reconcile with the standards for statutory audits. In doing so, we always maintain an independent and objective view of the key problem areas that are most relevant to you as family shareholders or partners. We apply our expertise in business valuations and corporate finance whenever you intend to sell all or part of your business or, conversely, plan an acquisition, or if there are changes among the shareholders or partners. We provide expert support from the initial considerations to the closing of the transaction. We prepare valuations, support you in preparing offers and accompany you in negotiations with an interdisciplinary team. We also offer such advisory services when a change of shareholder or partner is planned or when strategic succession plans have to be devised.
Examples of our advisory expertise Auditing separate and consolidated financial statements Special audits Advising on M&A activities Finance: evaluating risks and opportunities Raising equity capital / corporate finance Company valuations Financing severance packages for outgoing shareholders or partners Advising on management buy-outs and buy-ins We offer you a responsible partnership.
Our Family Office offers a wealth controlling service In-depth expertise in tax, law and auditing is a key basis for responsible wealth management. With one of the most highly regarded German family offices, PSP offers you the expertise to adjust the different components of your wealth not only to economic, but also to the new tax and legal circumstances. The experts from our Family Office team offer you advice tailored to your individual needs in private wealth planning, your succession or in the development of all types of foundation-based solutions. We assume personal responsibility for you and your family and always keep in mind your objectives in order to create and preserve values. You can of course rely on our interdisciplinary approach in this area, too. This also benefits you in wealth controlling and guarantees you comprehensive advice from one source without unnecessary interface inefficiencies.
Examples of our advisory expertise Drawing up a statement of assets and liabilities Devising a wealth strategy Selecting a wealth manager Monitoring asset performance Investment and cost management Working out foundation-based solutions Annual audits of foundations We assist you personally in every situation.
A national and international presence We operate wherever our clients need us, as we are aware that personal advice does not end at the border. This is why we have been a member of DFK International for many years. DFK International is a significant international association of independent audit and tax consulting firms. It embraces more than 400 offices in 85 countries. Through DFK International, we always have a local presence and can also advise you on cross-border matters individually and personally regardless of whether you plan to expand internationally or are already represented abroad or simply want to establish new international business relationships. With the combined expertise of DFK International, we are able to support you worldwide with the services that you expect from us. In addition, we maintain personal contacts to many excellent advisers abroad. These have grown over the years and also enable us to give you prompt and efficient advice on complex international issues. Moreover, in complex matters we ourselves work abroad locally. Besides overall coordination, we ensure that examinations, negotiations and the final documentation meet your requirements. Through DFK, we have a local presence in 85 countries.
The firm opposite the Siegestor Since it was established over 35 years ago, Peters, Schönberger & Partner has developed into a highly regarded mid-sized firm that provides tax advice, audit services and legal advice. We mainly advise small and midsized firms, family businesses, entrepreneurs, wealthy private persons and private equity companies that seek interdisciplinary and personal advice. With us at your side, you have a professional, reliable and assertive partner that is committed to representing your legal and tax interests and that performs the traditional tasks of auditors. PSP a consistent interdisciplinary approach
You can find further information on our range of services in the target group brochures: Small and mid-sized firms Family Office / private clients Private equity firms PETERS, SCHÖNBERGER & PARTNER MBB RECHTSANWÄLTE WIRTSCHAFTSPRÜFER STEUERBERATER Schackstraße 2 80539 Munich Phone: + 49 89 38172-0 psp@psp.eu www.psp.eu PSP 500 01/17 STEP PHOTOS: KARSTEN DE RIESE, 83623 DIETRAMSZELL