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Succession Planning

Succession Planning is actually about putting in place a strategic business plan for your business which allows you to outline your business and personal goals.  These goals relate directly to your ability as a business owner to extract the maximum amount of value from your business when you exit, to provide for your retirement planning needs.

If you do not have a strategic approach to business succession planning – any value you have been able to build into your business may well retire when you do!

It is important that  a Buy-Sell Agreement or Business Will be set up with legal advice.

How is a Buy-Sell Agreement set up?

  1. The business owners negotiate and agree on
    • the trigger events
    • how the interest in the business will be valued and
    • the respective buy and sell obligations of the business owners should a trigger event occur
  2. A funding plan is established to provide the cash to achieve the financial obligations of the business owners should any of the trigger events occur.
  3. The legal documentation is prepared.

To make an appointment with an adviser to discuss your specific Business Insurance needs contact us directly on (07) 3170 3707 or click here to email us.

BUSINESS INSURANCE

  • Business Expenses
  • Key Person Insurance
  • Buy/Sell Insurance
  • Succession Planning

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CONTACT DETAILS

146 Bloomfield Street, Cleveland
PO Box 1319, Cleveland QLD 4163 4163
Phone: 07 3170 3707
ABN: 16 074 508 071
Email: contact@wilsoniss.com.au

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Coopers N’Cents Financial Services ABN 16 074 508 071 trading as

HFB Wilsons Pty Ltd – ABN 63 616 059 324 as a Corporate Authorised Representative

No 253397 of Clearview Financial Advice Pty Ltd

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Copyright © 2018 Wilson Insurance & Superannuation Specialists
General Advice Warning:
The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your ClearView Financial Advice Pty Ltd Authorised Representative before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither ClearView Financial Advice Pty Ltd nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.