Succession

In consultation with the owners of the business, and where appropriate, the family members involved in the business, we assist in the development of a business succession plan. This usually involves discussions with family members, and then reporting on the findings from these discussions. We then work collaboratively with them in the formation of a plan, and its subsequent implementation and documentation.

In this role, we are often required to review the business structure, and advise on such things as superannuation and binding death benefit nominations, insurances, appointor provisions of discretionary trusts and the implementation of testamentary trusts, deeds of family arrangement or family constitutions.

An important part of our assignment is facilitating a dialogue between family members.

We will often advise and counsel the current business proprietors and the family's chosen management successors on the transition, legal and family governance and business structure matters.