Menu
Facebook icon Twitter icon LinkedIn icon Google plus icon YouTube Icon rss blog icon

Planning your legacy

Two generations touching fingers Legacy planning: It's a topic that few of us like to think about let alone discuss and proactively plan.

Building your wealth is one thing but protecting it and making sure it is passed on to the people you most want to benefit from it, is quite another.

Most people assume planning your legacy is just about having a will. In fact, as a business owner it's much more than that. While a will may be a good place to start, a comprehensive estate plan is far more effective in being able to:

Many people make the mistake of assuming that everything they 'own' in including their business, home and super forms part of their estate. In the majority of cases this is simply NOT true.

The business structure that you operate in can have a significant impact on what you actually 'own'.

  • Did you know for example, that assets held in companies, trusts and your super don't necessarily form part of your estate unless you take specific measures to change this?
  • Consider what would happen if you are in partnership with someone and something happened to them. How would you pay their estate?
  • And what if something happened to you, how would your family access the value held within your business?

Taggart & Partners can help you with all aspects of the process including:

Most of us would prefer to live in the here and now and enjoy what we have now without thinking about what the future has in store. However, none of us know what's around the corner and you hear of too many horror stories to use this as an excuse to procrastinate.

Not acting now can make the difference between ensuring your assets are protected today and pass to the right people when you're no longer here and a complete stranger making decisions about who and where your wealth should go. You've spent too many years building up your wealth to leave it to chance.

At Taggart & Partners we are ready, willing and able to assist you in developing your estate plan and can even provide support in accessing the appropriate legal advice. If you haven't looked at your will in the last 2 years, contact us today to arrange an appointment to get your affairs in order.

Resources

Calculator icon
Calculators
calendar icon for key dates
Key Dates
Computer icon for useful links
Useful Links
Tick icon for tax facts
Tax facts

What our clients say...

As directors of Vision 1 Investments we have been clients of Taggart & Partners for the past seven years. In this time we have found Taggart & Partners to be more than your average accounting practice.

Adam and Terese Biermann, Vision 1 investments Pty Ltd

Our phone calls, emails and questions never go unanswered – it is exemplary. Not only do Taggart & Partners come back with professional, well researched and thought through answers, but they do it with a friendly approach - your business matters to them.

Damian Kelly, Group General Manager, Brisbane Refrigeration Pty Ltd

Taggart & Partners have been my business and personal accountants for over 7 years. The support and service that they have offered to me has been crucial to the successful running of my business.

Stephanie Canfell, The Bowery

Taggart & Partners have been our accountants for the past four and a half years. Over the time we have found their service, advice and planning to be second to none.

Raymond Sackett & Justin Kennon, The Kennon & Sackett Group

Puss 'n' Pooch Day Spa has been receiving accountancy and tax advice from Taggart & Partners from day one. Nine years on we are still going strong. Ray and Suzanne Taggart are fantastic business-minded people and love to see their clients enjoy success.

Kelli Smith, Puss 'n' Pooch Day Spa