Dunstan Legal



Email Us Today
for a consultation

  • Home
  • Areas of Practice
    • Wills & Estate Planning
    • How to Make a Will
    • Contesting a Will
    • Executors & Probate
    • Powers of Attorney
    • Civil Disputes & Litigation
    • Business & Commercial
    • Conveyancing in New South Wales
    • Selling Property
    • Buying Property
    • Business Purchase/Sale
    • Business Succession
  • Blog
  • Contact Us

Business Succession

NSW Business Succession Lawyers

What is business succession planning?

A business succession plan outlines what will happen and who will take over your business when you leave, whether by choice or by circumstance. The aim is to provide the business with a smooth transition so that disruption is minimised.

Process of succession planning

Each business is different of course, but you will likely need to consider:

  • Goals and objectives of all parties
    1. Do you require an ongoing income from the business?
    2. Will you have any future involvement in the company?
    3. Who is interested in taking over?
    4. What impact will there be on all members of your family?
  • Identify your potential successors
    1. Objectively assess their capability, needs, commitment, skills and experience
  • Consider all the angles
    1. Minimising Capital Gains Tax, Stamp Duty and Income Tax for you and your family and remaining partners
    2. Retirement income planning
    3. Financial implications of business transfer
  • Contingency planning
    1. What will happen in the case of catastrophic injury or death?
  • Corporate structure issues
    1. Define roles and responsibilities of current family members and employees
  • Business valuation
    1. Plan to increase the value of the business particularly if it is to be sold
  • Exit strategy
    1. What are the training or mentoring needs of your successor?
    2. How will you exit and by when?

We can help

These are complex issues, spanning legal, financial and management arenas. At Dunstan Legal we can help make sure you have covered all bases.

Contact us to find out more or to arrange a consultation.

Online Enquiry

.

    Our Focus

    • Experienced
    • Deal with the Principal directly
    • Wide range of services

     
     
    Dunstan Legal Logo

    Our Advantages

    We bring a strategic approach to achieve outcomes drawing on decades of expertise and experience in almost every area of the law. This gives us a very broad knowledge base and panorama of experience to draw upon when navigating towards successful outcomes.

    Areas of Practice

    • Wills & Estate Planning
    • How to Make a Will
    • Contesting a Will
    • Executors & Probate
    • Powers of Attorney
    • Civil Disputes & Litigation
    • Business & Commercial
    • Conveyancing in New South Wales
    • Selling Property
    • Buying Property
    • Business Purchase/Sale
    • Business Succession

    Contact Us

    • Suite 302a, Level 3, 20 Bungan St, Mona Vale NSW 2103
    • PO Box 984 Mona Vale NSW 1660
    • DX 9034, Mona Vale NSW 2103
    • (02) 9997 7200
    • (02) 9999 4667
    • [email protected]

    Connect with us

    • Email
    • Facebook
    • Phone

    Copyright © 2022 · Website hosting by Lift Legal Marketing · Log in