Getting your affairs in order.

Succession Planning can improve your and your family’s financial health and ensure it is protected. An effective succession plan can give you and your family peace of mind that whatever happens in the future, there is a plan in place to look after the ones you love.

The components of a good Succession Plan usually include:

  • Identification of all assets and property across your personal and business life (including superannuation).
  • Identification of any potential risks (things like early death, divorce or separation, changes in circumstances of a beneficiary etc).

An effective Succession Plan can then be drafted that includes all your assets and builds in flexibility for future changes, manages risk, minimises taxation and addresses any succession issues that may eventuate. The plan can also help shield your estate from claims being made against it after your death.

Your succession plan will usually include a number of other legal documents:

No matter how straightforward or complicated your situation may appear, it is vital to use a highly skilled and experienced team like Baldock Stacy & Niven. BS&N will work with you and your financial advisors to ensure your succession plan is complete and precisely captures your situation and wishes.