Family succession planning can be complex. That’s why it can be so helpful to have a financial adviser helping you through the process.
GFP can help you to cut through the jargon and help you to work through considerations such as:
• how to plan for debts to be covered in the event of your death or incapacity while leaving funds for your dependents
• understanding how nominating a beneficiary within your super fund or life insurance company works – this can be just as important as having a valid Will
• how the benefits that your beneficiaries receive can vary according to how they are taxed and the implications for who they are passed to depending on whether they receive some sort of income stream or a lump sum
• how assets may be reallocated if a beneficiary were to die before you
Your GFP adviser can simplify the family succession planning process – answering your questions and helping you to work through the issues.
Creating a Will for your business
If you’re in business and you don’t have a plan for an involuntary or unexpected exit by any of the business partners, this tip is for you:Create a Will for your business to shore up arrangements for a buy-out and nominate the triggers that could warrant such...
