Estate and succession planning involves more than just preparing a Will. It may include considering a Testamentary Trust, Enduring Power of Attorney, Advance Health Directive, a Superannuation Binding Death Nomination or any combination of these legal documents. Transitioning a business or estate involves identifying a successor. Neglecting the vital steps in estate planning can invite difficulties.
True succession planning often involves working alongside your Accountant and thinking “outside the box”. Our experienced team from Toowoomba will collaborate with you to formulate a strategy based on what you wish to achieve. This strategy can include objectives involving investment goals, maximising the amount received by beneficiaries and reducing tax impact. Kennedy Spanner can also assist with updating or drafting a Will, which incorporates your succession management plans.
Stamp duty, capital gains tax and possible challenges to your estate are complicated matters that may arise during estate planning. Our team are happy to discuss critical matters with you, and help assess your situation in depth. Disposing of all assets to entities, which you control, and a cost benefit analysis are also key components in a successful succession planning strategy.
Under the guidance of our experienced team we can help you devise a comprehensive corporate or family business succession plan, detailing how you would like your assets to be effectively distributed.
Contact us via the form to speak to a professional and allow us to guide you through the essential estate and succession planning steps.