Estate & Succession Planning
Achieving a successful succession of your business is a strategic process that ideally starts years prior. Whether setting up for sale, transitioning to a successor or even just wrapping up your affairs - planning early makes all the difference. And if adversity strikes a pivotal staff member, or yourself, how well will your family and the business be looked after?
By working alongside you in your business we'll review your current situation and put in place a plan to take you into the future - protecting your family's wealth, and the future success of your business.
Our specialised staff will help you realise the true worth of your business and we'll give you the right expertise when you need it the most. Helping you stay in control through times of change.
Real life succession planning outcomes
One of our clients was a large family business with a number of splintered branches and a lot of tension, which was affecting the way the business was operating, and its growth. We facilitated family meetings to gain a thorough understanding of each family member's wants and needs. For those who were wishing to leave the business we put in place robust exit strategies, and for those left in the business we tightened up on processes so the business was protected for the future.
Another client was a wealthy business owner planning for his retirement. He also had an adult daughter who suffered from debilitating depression. We worked with the family to structure an orderly sale of the business, the investment of funds, and a tax-free income stream. Together we put in place a trust that both benefitted and protected his daughter.
In a third instance, a young married couple with significant assets came to us for help. With dependent children they were concerned for their future if the unthinkable happened. We prepared a trust structure along with comprehensive wills so that the children were protected in the future.
Assistance throughout the entire transition process
Throughout change processes you need clear and authentic communication and documentation to stay in control and keep everything in order. We will give you peace-of-mind by helping put your affairs in order, then developing plans for the protection of your business and family wealth in the event of conflicts, illness or death. We will help you keep your family and team aligned so everyone is working together towards the same goal. And we'll save you time and resources as well as unnecessary costs, so even when the worst case scenario happens you and your loved ones are safe and secure.
Estate Planning, Trusts, Wills and Tax all taken care of for you
You can prepare for the future by working with us before calamity hits. We will look at your financial situation as it stands now, as well as its future potential. By building an understanding of your current circumstances we'll put in place the estate planning, trusts, wills, tax strategies and buy/sell agreements you need in a way that makes sense. We'll also make times of transition easier for you by facilitating family meetings and creating comprehensive yet easy to understand family governance documents.
Access to expertise no matter what your situation
Rather than being generalists, our team are all experts in their respective fields. At the same time we have a good overall knowledge of the ins and outs of finance planning. We focus on strategies that benefit you as opposed to following 'rules of thumb' or status quo processes. We will listen to your exact needs, build an understanding of your aspirations, and tailor a strategy to suit you and your business. You will also benefit from our direct links to other expert advisors like accountants, financial planners and valuation specialists, agricultural advisers, self managed superannuation administrators, and insurance specialists. With your goals as our focus we will work together to achieve the best outcomes for you.
Importance of being prepared to exit your business
When you decide it's time to move on from your business there are still a lot of decisions to be made. Whether you're looking to retire or to sell up, future planning can be complex. If adversity strikes a pivotal staff member, or yourself, you need to know your family and the business will be looked after.
Confusion and a lack of control in times of change can be the undoing of even the most resilient company. Planning for change needs careful thought and robust advice. Finding the right successor can also be a real headache. Balancing the wants and needs of family members and key staff can be tricky, especially when emotions get involved. You may be ready to move away from day-to-day company affairs, but your leadership team and staff are still relying on you to make tough, decisive calls about their future.
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