• It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.

    Robert Kiyosaki

What’s your main business pain?

Everyone’s out to get your money. Make sure that you have planned and structured your personal assets and business set-up so that your life’s work is protected.

Protecting Your Assets

Protecting Your Assets

The way your business is structured effects the protection of your business and personal assets

Asset protection is often one of the most neglected aspects of personal financial planning.  How much your assets are protected depends on the way you structure the ownership of assets, ensuring they’re owned in the right names or entities.

Taggart & Partners specialise in finding the most appropriate structure to ensure you and your business are well protected. What’s more, you may find that choosing a different structure can actually reduce the amount of tax you’re paying.

Call us and find out how we can ensure your private family assets and valuable business assets are adequately insulated from possible future financial setbacks, family disagreements and/or business failure.

Developing Your Exit Plan

Developing Your Exit Plan

Setting up for moving on

If there’s one thing you can be certain of as a business owner, it’s that at some point in the future you will transfer your business interests.There are primarily four ways in which this will happen:

  • Transferring business ownership to your children
  • Selling the business to a partner or employee
  • Selling to a third party
  • Liquidating

Planning your exit strategy will pay huge dividends both from a tax perspective and for the ultimate sale price that you could achieve.

To kick start this process, there are a number of important questions to consider including:

What are your ultimate goals and when would I like to exit my business?
If you’re selling to retire, how much money do you need to enjoy the lifestyle you aspire to?
How valuable is your business now and what can you do to increase its value?

Taggart & Partners can help you with all aspects of the exit planning process such as:

  • Estate planning
  • Succession planning
  • Tax advice
  • Superannuation planning and funds advice
  • Personal investment and insurance advice
  • Retirement planning
  • Asset protection
Planning Your Legacy

Planning Your Legacy

Live now, but plan for your future

Legacy planning is a topic that few of us like to think about, let alone discuss and plan proactively. As a business owner a comprehensive estate plan is far more effective than a will in being able to protect your assets, reduce the risk of disputes, and minimise your taxes.

Everything that you ‘own’ in including your business, home and super is not necessarily a part of your estate. 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?

  • 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:

  • Tax effective strategies to maximise the value of your estate
  • Effective business structuring
  • Developing your will
  • Options for dealing with your superannuation
  • Insurance advice
  • Establishing a Discretionary Testamentary Trust
  • Business owner succession planning

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.

Interested in asset protection or business exit strategies?

Tell us about your business accounting needs below and we’ll schedule a free 30 minute consultation.