Family, Estate & Succession Planning

The implementation of an effective estate plan is a necessary fact of life. Proper planning requires a structured process tailored to each family’s particular circumstances. That’s why our Family, Estate & Succession Planning Service maps out your business succession strategy while incorporating concepts to minimise tax exposure as part of the process.

The Importance of Wealth Management

Ensuring your family’s wealth grows and is insulated from future challenge is an important part of estate planning. It allows parents to live a comfortable retirement, while also considering how assets are held, and how they can be eventually transitioned in your estate. This suits lifestyle needs in retirement, while also providing a safe means by which assets may be passed down to your children. Wealth management creates workable solutions to help you meet both your personal and business goals and improve investment and asset performance.

Reducing Risk

Protecting your income and assets from unforeseen occurrences can help reduce your risk for loss. Well-structured investment and tax planning are just two ways you can reduce risk and help secure your assets for ongoing income beyond your work years. This works in hand with planning an exit strategy from your business. Planning how leaving will impact the business, the staff and customers. Creating the appropriate exit strategy, extracting the value of the business to the owner and understanding how successors are to follow in your footsteps helps ensure your business remains successful. Through business succession planning, you have future business owners in line and avoid commercial or legal challenges that could reduce the realisation of true business value.

Minimise Tax Exposure

Estate planning helps minimise the tax exposure to your estate. Many strategies can be introduced, such as nominating Superannuation benefits to tax-preferred beneficiaries, creating a trust to protect your assets, and using Testamentary trusts within Wills. Other considerations are protecting your estate and assets, so your children receive the money should your spouse remarry following your death. Another common concern is for the future control of family trusts and addressing the potential for rivalry between family members.

Effective Succession Planning

Succession planning must be considered for your financial security plan allowing you to retire with sufficient funds to support your desired lifestyle. However, it also helps maximise tax planning opportunities while providing a savings plan to cover future expenses. Not only do you have the financing required, but your family and estate are protected in the event of premature death. Your estate plan also ensures your assets go to the beneficiaries you intended.

Composing and Updating Your Will

Composing and periodically reviewing your will ensures that as the circumstances of your family, assets, liabilities, and goals change, your estate planning reflects these changes. Your wishes might also change and should be reviewed every five years or so to ensure those wishes are met. You can ensure your family isn’t faced with hardship and that there is a smooth transition of assets upon your death. Effective administration of your estate is very important to avoid potential conflicts.

Family, Estate & Succession Planning is an ongoing process that provides you with strategic planning opportunities which evolve as your life and assets and marital circumstances change. One common area of concern, for example, is how can financial assistance to children be protected from the pool of marital assets should the relationship fail.

Good estate planning should be sensitive to constantly evolving legislation that may impact your assets and estate in negative ways. The possibility of potential laws such as succession duties is one such concern. When you remain on top of your estate and succession plan, your family, business, and estate are optimally protected.

If you would like more information on Business & Family Estate Succession Planning, book a complimentary discovery meeting today.

Contact Us Today

Name(Required)
This field is for validation purposes and should be left unchanged.

 What our clients say

“As an ‘above average’ earner, the C&B team have been exceptionally valuable to my family. From the very first meeting, I knew we’d found a professional team familiar with others in my situation who were able to provide careful and well considered tax planning advice. They just give you confidence and comfort as the advice is always thoughtful and well considered.”

Ben Daking

“We ended up speaking to three accountants who came highly recommended and ended up choosing Clarke & Brownrigg. Richard went above and beyond to come over to understand our business, and we love how he will talk through things openly in a way that we can fully understand.”

Maria Coppola

“As a Clarke & Brownrigg client for over 25 years, I have great confidence and no hesitation in recommending Clarke & Brownrigg to anybody in search of sound accounting advice.”

Michael Butler

“I have been a client of Clarke & Brownrigg since the late 90’s and have been very happy with the service I have had since that time. Clarke and Brownrigg also have considerable experience working through the ever changing renewable energy and technology field. We’ve gone on that journey together, and it has been a good one.”

Terry Kallis

Contact Us Today

Name(Required)
This field is for validation purposes and should be left unchanged.

 What our clients say

“As an ‘above average’ earner, the C&B team have been exceptionally valuable to my family. From the very first meeting, I knew we’d found a professional team familiar with others in my situation who were able to provide careful and well considered tax planning advice. They just give you confidence and comfort as the advice is always thoughtful and well considered.”

Ben Daking

“We ended up speaking to three accountants who came highly recommended and ended up choosing Clarke & Brownrigg. Richard went above and beyond to come over to understand our business, and we love how he will talk through things openly in a way that we can fully understand.”

Maria Coppola

“As a Clarke & Brownrigg client for over 25 years, I have great confidence and no hesitation in recommending Clarke & Brownrigg to anybody in search of sound accounting advice.”

Michael Butler

When You Join Our Family, You're Not Just Another Number

For over 20 years, our clients have been willing and actively encouraged to be open and share their issues and concerns, both on a business and personal level, so that we can work together to come up with the most appropriate solution.

Ready to join our family? Contact Us For A Complimentary Introductory Meeting & Let’s Start Creating A Plan For Yours.