Succession Planning

The best ways to structure and pass on your wealth

AFR - Wednesday, 4 Nov 2020 - Page 24 There’s been a lot of talk in recent years about the ‘‘ SKI’ ’ phenomenon (spending the kids’ inheritance) but there are many Australians who want to help their children financially – either now or in the future – passing on the wealth they built in…

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10 Commandments of succession

1. The primary outcomes of succession planning should be certainty for all parties and improved family relationships. Use the process to improve family relationships, not to have them deteriorate. 2. Start early.  Many Australian farmers and business owners retire or semi retire after the age of 70.  That ok, but the younger generation need responsibility,…

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