EXIT PLANNING
If the business is to pass to others, you have to ensure that your
personal assets and the business’s are separated and that
ways of releasing value are identified. If the new owners are to
be family members, thoughtful planning now can avoid family disputes
later.
The Family
When your family’s interest in the ongoing business becomes
confused or when relationships break down, dispassionate advice
is invaluable. More
on Family matters >>
Retirement
Believing that your business will provide for you in your retirement
may not be valid. A professional valuation and a clear understanding
of the ways of extracting income for yourself and your dependants
are needed. More
on Family matters >> More
on planning for Old Age>>
Your Will
Complex business arrangements often cause substantial and expensive
problems for those you leave behind. A clearly thought out Will
can bring the peace of mind from knowing that those you care for
are provided for. Establishing family trusts can, for example, reduce
tax burdens substantially.
When you are gone, there will always be problems to be resolved.
You have always taken care of everything for your family. Ongoing
advice, independent of family interests, will be necessary if income
is to be maximised and wrangling avoided. More
on planning for Old Age>>
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