Succession Planning

Succession planning is the process of planning the orderly transition of a business and personal wealth to new owners or the next generation. It covers the strategy, tax, structuring, valuation, and estate elements of the handover, so the transition protects value and reflects your wishes.

Early, ideally years before you intend to step back. The best and most tax-effective outcomes are built over time, and getting a business sale-ready or preparing the next generation to take over cannot be rushed in the final months.

Common paths include a sale to a third party, a sale to your management team through a buyout, a transfer to family, a gradual handover, or winding the business down. We help you weigh which option best fits your goals, your timeline, and your circumstances.

Capital gains tax generally applies on a sale or transfer, and the small business CGT concessions may significantly reduce or even eliminate it where you are eligible. The CGT regime is currently under reform, and the treatment of small business gains is still being settled, so we confirm the current position and plan the transaction accordingly.

A buy/sell agreement, sometimes called a business succession agreement, is an arrangement between co-owners that sets out what happens if one of them exits, dies, or becomes disabled. It is often funded by insurance, so the remaining owners can buy out the departing owner’s share and the departing owner or their family is fairly paid.

Yes. We coordinate the business transition with your personal estate plan, including wills, testamentary trusts, superannuation death benefit nominations, and the control of family trusts, working with your estate lawyers. Investment advice is provided by licensed advisers.