Exit strategies are important. Whether it is an uncomfortable social gathering on a Tuesday night or your retirement plan, having a departure strategy allows you to move forward with confidence. One of our good friends shamelessly “smoke bombs” at exactly 8.18pm from virtually every event he attends – it is an exit strategy that works for him. Estate and Succession planning allows business owners to give certainty to their families and business partners about their departure plans.
Recent national news stories have put the issue of estate planning into the spotlight. These articles highlight generally the critical importance of appropriate estate planning for Australian adults of all ages.
Estate planning allows you put in place strategies to pass ownership of assets, control of entities and decision making powers in the event of your death or loss of capacity. At its most basic level, estate planning deals with wills and powers of attorney.
Plan for this world as if you expect to live forever; but plan for the hereafter as if you expect to die tomorrow. – Solomon Ibn Gabriol
Estate planning is critical for anyone who has a family and anyone who has assets. The estate planning process ensures that in the event of death or incapacity, decisions are made by the people that you have chosen, and assets are dealt with in the manner you decide.