Succession Planning

You can work hard to set up a successful business but failure to plan for succession can cause you significant financial loss.

Succession may involve the transmission of the business to a family member or a sale of the business. The proceeds from the transmission or sale may be taxed concessionally, or be tax free in certain circumstances. It could provide you with the money for a break from having to work, or fund your retirement.

Preparation is the key to maximising the financial benefit from transmission or sale of a business. You need to plan now for the eventual handover or sale of your business. It should also be considered together with Asset Protection.

Call Us to book The First Hour, to get an assessment of your succession planning needs and written advice for $330.

• Identifying Risks and developing a Business Sale or Succession Plan
• Preparing for Due Diligence
• Carrying out business restructuring
• Use of Trusts and Self Managed Superannuation Funds
• Shareholder Agreements
• Drafting Testamentary Trusts, Wills,  Powers of Attorney and Advanced Care Directives
• Drafting Discretionary Trusts and choosing Appointors, Trustees and Beneficiaries