Succession planning and estate planning

The impact of succession planning and estate planning is essential for the successful future handover of your business.Business people, whether primary producers, manufacturers, retailers or others, must all consider the succession planning and estate planning of their business.

The impact of a poorly planned succession can be substantial in terms of taxation, administrative costs, relationships and stress, so it is essential to plan for the future handover of your business.Those SME owners who opt for a well-planned succession enjoy greater benefits, both financial and personal.

Our succession planning consultants help SME owners plan and execute the smooth succession of their business, whether it be to new owners, the next family generation or upon their death or incapacity.
As required, we draw on the advice of solicitors for legal issues.

Our Succession planning and Estate planning services include:

  • planning and managing asset transfers
  • management succession
  • wills and enduring powers of attorney
  • family dispute resolution
  • family wealth appraisal
  • administration of deceased estates
  • company and trust formation and structuring
  • life insurance and superannuation
  • planning for retirement
  • advice on pension eligibility

Key contact

Dace Harris - National head of Business Advisory

Dace Harris
National Head of Business Advisory

T: +61 2 8226 4500
E: [email protected] 

Business Advisory Tools

Growth & Profit diagnostic

Business and Finance Spotlight Webinar

Watch the Recording: Business and Finance Spotlight Webinar | 12 October 2021

In this Business and Finance Spotlight hosted by RSM Partner Nadine Marke, we hypothetically adopted an aviation theme and explored the journeys of businesses and individuals who have navigated headwinds to thrive. We heard the story of Flight Centre, from Chairman Gary Smith - how the $19 billion dollar business, founded by two vets from Queensland in the early 1980s and today has more than 30 brands. We also spoke to dual Olympic gold-medal swimmer and world champion Bronte Campbell OAM about the daunting flight she’s been on as she opened up about her time at the Tokyo Olympics, her third Olympics. We finished with a candid presentation from experienced former CFO and now RSM Partner Craig Amos who has taken many companies through transformational journeys – he shared lessons he’s learnt from taking calculated risks.
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thinkBIG - Succession Planning

For most privately owned and family firms, succession means planning for the sale of your business or handing over control to other family members when you retire. In this report, we not only look at the details for a successful succession plan, but we also take a look at timelines for the best execution of a succession plan.
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Future Farmer Webinar Series | April - June 2021

Empowering South Australian farmers to navigate the complex business world.
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Farm Succession Planning and the four fundamental questions you need to know

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10 common questions when considering estate planning

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It is all too easy to delay your estate planning, as thinking about what happens to your estate after you pass away can be quite daunting. All too often, people fail to ensure their estate is properly taken care of, which can result in unnecessary stress for their loved ones.
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Succession planning tips for Australian manufacturers

Many businesses are focused on the ‘now’ and in our current climate, that is completely understandable when life is about survival. However, when this current phase passes, we will revert to (a new or other) normal and the issues that have always faced business leaders will still be there.
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Rental Properties

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Rental properties are a great investment to help build off farm assets, which can be used later in life as part of a great succession plan. In the meantime, you can enjoy earning a bit of off farm income and perhaps claiming a few deductions along the way, but it’s important to know what you can claim and how much you can claim.
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retirement

Retirement - How much do I need?

Retirement: a delightful word that conjures up images of days spent in slippers, volunteering to help others, rediscovering old hobbies, taking long cruises in the Mediterranean, or just enjoying your new found freedom.
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Succession Planning

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Succession planning for farming families can be quite daunting and there certainly are some horror stories on how it can spiral out of control. The flip side is succession planning can be a very rewarding process for all involved if tackled with goodwill and respect.
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Superannuation

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Many people only start planning for retirement when they enter their 50s and other family commitments have begun to decrease.
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RSM’s multidisciplinary Family Law Support team are experts in untangling the financial web in family law matters.

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Asset protection vs tax optimisation

In business, there are many risks that are simply out of your control. This thinkBIG report takes a closer look at one of the great conundrums for owners of small businesses - the balance between asset protection and tax optimisation.
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Keep your succession plan on the right road!

Keep your succession plan on the right road!

At the mention of the words “Succession Planning”, many different emotions may arise. For some, it can be a confusing and difficult time. For others, a more enjoyable experience, an opportunity to help the next generation grow and develop.
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The future of general practice: cash flow, growth and innovation

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