The SGV Knowledge Institute, with the SGV Tax Markets Pillar, hosted a seminar titled “Fortifying Your Legacy: Wealth Succession and Family Business Succession Planning” on 4 April 2024, at the Washington SyCip Development Center (WSDC) Training Room. The event was attended by over 40 family business owners and executives from various sectors.
SGV Private Tax Leader Atty. Jules E. Riego and EY Asia-Pacific Private Tax and Family Enterprise Leader Desmond Teo during the question-and-answer session
SGV Chairman and Country Managing Partner Wilson P. Tan opened the seminar. SGV Private Tax Leader Atty. Jules E. Riego discussed Succession Law, wealth succession planning both at the family enterprise level and the individual level, family governance, and Common Reporting Standards (CRS). He emphasized the benefits of estate planning and the role of a Family Constitution in preventing disputes.
Atty. Jules talks about the holding company structure after a tax-free exchange
SGV Tax Partner Atty. Thyrza F. Marbas spoke about wealth planning for individuals, covering tax strategies and legal tools like wills and trusts, aiming to safeguard the future of estates and family businesses.
Atty. Cheryl, Atty. Jules, and Atty. Thyrza
EY Asia-Pacific Private Tax and Family Enterprise Leader Desmond Teo shared insights on family offices in Singapore and Hong Kong as models for the Philippines. SGV Tax Partner Atty. Cheryl Edeline C. Ong facilitated the seminar and moderated the question-and-answer session.
The seminar highlighted the importance of succession planning for family businesses, including for cost savings, and preserving harmonious family relationships.
