Estate Planning As the current battle rages between James Packer and the hostile overtures of Kerry Stokes to gain control over the younger mans inherited media empire the question of succession planning is once again raised. What is succession for an individual and for a business entity? The answer is not as straight forward as one might initially think. What the majority of clients do not realise is that successful succession planning requires the combined expertise and involvement of the Financial Planner, the Accountant and the Solicitor. The following Case Study illustrates how using a commonly implemented business entity structure while living could turn into a disaster at death. We have found that the same can and does hold true for individuals not in business but using an entity structure such as a Discretionary, Unit and or a Hybrid Trust when not structured and not updated correctly for changing circumstances. At Newealth we are always looking to innovate and improve our ongoing advice and services wherever possible and if you have any ideas or comments, please feel free to email me at invest@newealth.com.au or to call me on +61 2 9267 2322.
27th-August-2009 | 
