Business Succession Planning

We also help client to make the provision for their business succession planning, key men insurance, buy/sell agreement and Will and trust service.

A Business Succession Plan is a financial and tax plan that can:

1. 1. give your business every chance of survival when you are gone or suffer a long term illness
       or accident
2. 2. ensure your family and yourself receive the true value of your interest in the business
3. 3. allow for an orderly transition of ownership to the remaining partners, family members, or
       key employees - rather than suffer a fire sale
4. 4. provide a ready market for your business interests
5. 5. retain key employees

A Business Succession Plan considers the best way to:

• # structure your affairs to reduce unnecessary Capital Gains Tax, Income Tax and Stamp Duty
      for you, your family and your remaining partners
• # fund the transfer of your interest in the business to your outgoing partner
• # trigger the events to allow the succession to take place, for example your business partner:

• * dies
• * becomes of unsound mine
• * suffers a total and permanent disability
• * suffers a trauma event, like a heart attack or a stroke and can't get back to meaningful
      work
• * turns 65 and wants to retire