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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

Exit strategy business planning 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

Contact us today to see how we can help you plan your exit strategy.

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.

  • Raymond specialises in asset protection strategies, business structures and taxation planning to improve profits and mitigate tax & business risk. Raymond is dedicated to the needs of each client." "Ray has consistently provided our company with high quality advice and demonstrated an in depth knowledge to maintaining a profitable and fiscally rewarding business

    Rebecca Parry

Our Reviews on Google

  • review rating 5  My husband and I changed over from our previous accountant of 25 years to Ray Taggart & Partners 6 months ago. This decision was not taken lightly, but Ray was highly recommended by our in house accountant in our business. Upon meeting Ray for the first time we knew he was a cut above the rest. Ray has proved that tour first instinct was correct. For the first time in 25 years in business, we have a clear and concise proactive plan in place with the structure of our business and personal plans for the future. It has been the best investment in our future that we have made for a very long time. I would highly recommend Ray Taggart and his team to anyone in business Thank you Ray Lorraine Parke Fashion Carpet Court Stones Corner

    thumb LORRAINE PARKE
    8/08/2019
  • review rating 5  I’ve been a client for over 10 years and cannot recommend this firm enough. Personable and knowledgeable service. Very experienced team. Always available with back up support. It is essential to have this kind of support when running a small business. And Taggart and Partners really deliver. They have been invaluable. Highly recommended.

    thumb Stephanie Canfell
    1/16/2020
  • review rating 5  I was introduced to Ray Taggart when I abruptly learnt that "our existing accountant wasn't an accountant!" Ray and his team immediately took us on board and over a short period of time ensured compliance when it was needed the most. To know that you have a support team in the background such as Taggart & Partners, a team who will ensure that all aspects of owning and operating a small business is kept compliant, is a breath of fresh air. Ray and his team are always on the other end of the phone (or email) and a response to queries is always received within twenty fours - much different to what we had become used to in the past. I cannot recommend Taggart & Partners enough, thankyou!

    thumb Tracey Sims
    11/14/2019
  • review rating 5  Ray and his team helped us create an extremely tax effective structure to reduce our tax obligations, maximise our returns and protect our company and private assets. We can now plan for retirement with confidence and certainty. I would highly recommend Taggart & Partners and only wish I'd changed accountants years ago! (The reserved parking sign with our names on it was also a nice touch!)

    thumb Paul Hewish
    3/08/2020
  • review rating 5  It has taken me 6 years to find an Accounting Firm that I am finally extremely happy with. The Owner/Director Ray Taggart is a sharp-minded operator with a very efficient team . This now sets the way forward for my business and personal tax returns. You cannot go wrong .

    thumb Teneriffe Apartments
    9/06/2019
  • review rating 5  We've recently become clients of Taggart & Partners after knowing Ray & Suzi professionally/personally for 10+ years. The change over from my previous accountant handled with ease/care, and the first 12 months has been eye opening. There is clear concise communication, a pro-active mentality, and a whole of team office culture that makes you feel like you're their most important client. Working with an Accountant/Business adviser shouldn't be seen as just a business cost, it should be seen as an investment, and switching to Taggart & Partners has been one of the best business investment decisions I've made in the last decade.

    thumb Aron Burtenshaw
    7/17/2019
  • review rating 5  If you want a company that can understand the varying needs of individuals circumstances and how best manage them you cannot go past Taggart & Partners. From the start Ray and his team have provided a wealth of knowledge and support with how to better manage my companies and trusts. I would highly recommend Ray and his team at Taggart & Partners! After many years of searching I have now found a company that is professional and provides accurate advice when needed. Not to mention Ray and the team are extremely friendly and welcoming!

    thumb Andrew Allinson
    7/18/2019

Interested in asset protection or business exit strategies?

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