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Succession planning involves structuring the handover of a person’s interest in a business or other entity, either prior to death (usually on retirement) or on death.
As with estate planning, succession planning identifies all assets, wealth and interests to be passed on to the successor. Early planning and strategic thinking can create tax efficiencies and ensure that the chosen successor receives the business as intended.
If you’re thinking of retiring from your business or want the peace of mind of knowing your business will be passed on to the right person on your death, contact Australian Investment Professionals Legal today to discuss your succession planning options. Register here for an obligation free consultation
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