Logo


Call  02 9955 6692 

  • Home
  • Why Choose Us
  • Our People
    • Abraham Ishkhanian (LL.B), Principal Solicitor & Registered Migration Agent
    • Lee Seigenberg (MIPA, AFA), General Manager
    • Nadine Elhage (B.Bus, LL.B), Family & Immigration law
    • Rami Yousif (LL.B), Lawyer
    • Marina Oriehova Zhang (LL.B), Lawyer
    • Jo (Busababan) Roe, (LL.B, LL.M & MTax), Lawyer
    • Lise Champion, Office Manager
    • David Ross, Consultant
  • Our Services
    • Business & Commercial
      • Retail & Commercial Leases
      • Sales and Purchases of Small to Medium Businesses
      • Debt Recovery Law
      • Succession Planning
      • Workplace Relations
      • Service Station Law
    • Buying & Selling Property
      • Conveyancing – Buying Property
      • Selling Property
      • Retirement Residences
      • Conveyancing
      • Why Use a Lawyer
    • Wills and Estates
      • Making a Will
      • Contesting a Will
      • Executors & Probate
      • Estate Planning
      • Common Myths About Wills
    • Family Law
      • Divorce & Separation
      • Property Settlement
      • Domestic Violence
      • Child Custody
      • Child Support
    • Immigration Law
    • Criminal & Traffic Law
    • Civil Disputes & Litigation
    • Motor Vehicle Accidents
  • Legal News & Updates
  • Testimonials
  • Online Payments

Succession Planning

Corporate LawyersWhat is business succession planning?

A business succession plan outlines what will happen and who will take over your business when you leave, whether by choice or by circumstance. The aim is to provide the business with a smooth transition so that disruption is minimised.

Process of succession planning

Each business is different of course, but you will likely need to consider:

Goals and objectives of all parties

  • Do you require an ongoing income from the business?
  • Will you have any future involvement in the company?
  • Who is interested in taking over?
  • What impact will there be on all members of your family?

Identify your potential successors

  • Objectively assess their capability, needs, commitment, skills and experience

Consider all the angles

  • Minimising Capital Gains Tax, Stamp Duty and Income Tax for you and your family and remaining partners
  • Retirement income planning
  • Financial implications of business transfer

Contingency planning

  • What will happen in the case of catastrophic injury or death?

Corporate structure issues

  • Define roles and responsibilities of current family members and employees

Business valuation

  • Plan to increase the value of the business particularly if it is to be sold

Exit strategy

  • What are the training or mentoring needs of your successor?
  • How will you exit and by when?

We can help

These are complex issues, spanning legal, financial and management arenas. At Harbourside Legal Services we can help make sure you have covered all bases.

Contact us to find out more or to arrange a consultation with one of our experienced business succession solicitors.

Contact Us For A Free Case Assessment !  

.

Harbourside Legal Services

We understand that your circumstances are unique and that each client has their own individual needs.

Online Payments

Payments Options | Pay Now

Our Advantages

  • A convenient Sydney City location.
  • Speak simple English, available outside normal business hours.
  • Experience in many areas of law.
  • Speak directly to the lawyer handling your matter.
  • Employ up to date modern systems to ensure security and confidentiality of your details.

Contact Us

  • Suite 801,
    Level 8, 89 York Street
    Sydney NSW 2000
  • Q863 QVB
    Sydney, NSW, 1230
  • 02 9955 6692
  • 02 8076 7443
  • lee@hslegal.com.au

Liability limited by a scheme approved under Professional Standards Legislation
Copyright © 2021 · Created and hosted by LEAP · Log in