Plan to Succeed. Personal Services Profile

Transcription

1 Plan to Succeed Personal Services Profile

2 Estate Planning Our team works in close collaboration with our clients and their advisers to ensure that hard-earned assets are protected, as are intended beneficiaries. We listen to what you want to achieve and deliver simplicity out of apparent complexity. We work with clients and their advisers to establish a full picture of your goals, the assets and investments you wish to protect, and how you wish to protect them. We then apply our acumen as commercial lawyers to provide you with a strategy that achieves your desired outcomes. To help in discussing this often confronting and complex issue, consider these questions: Does it matter who receives your possessions after you die? Would you like to minimise your tax liabilities, and those of your beneficiaries? Does it matter who gets custody or guardianship of your children? Plan your estate Protect your assets Prosper for your family

3 Types of Own their own business Have addictions including alcohol, drugs and spendthrifts Are likely to suffer a relationship breakdown Have a disability Are part of a blended family Have young children, or the beneficiary themselves is under the age of 18 Our team helps our clients to engage strategies that protect their estate from loss by these at risk beneficiaries, whilst ensuring provision is still made for them. Plan, Protect and Prosper Many clients are taking advantage of asset protection measures by establishing trusts and self-managed superannuation funds. These structures will often hold a significant portion of their accumulated assets; however assets held in these structures cannot be dealt with in their Will. We will look at each individual situation from a broad commercial perspective, to understand the estate planning measures required. We have the experience and breadth of services to offer clients a solution that will cover all of their requirements. Estate planning is more than just a Will. Planning for your future and the future of your family can take a number of forms: Will preparation Establishment of Testamentary Trusts Undertaking Trust Deed reviews and amendments Undertaking SMSF Deed reviews and upgrades Preparation of Enduring Powers of Attorney Preparation of Death Benefit Nominations Devising Asset Protection strategies Consideration of the entitlement of beneficiaries Tax advice

4 Superannuation In the face of the efforts of regulators to spread fear about superannuation, our team shines a light into a relatively complex arena and clears the path of obstacles. Superannuation is quickly becoming the greatest asset of most individuals. Establishing a Self- Managed Superannuation Fund (SMSF) offers numerous advantages, including greater control, flexibility and choice of investment options. As a result of the increasing popularity of SMSFs for investment, Austra one of the fastest growing markets in the Australian financial landscape. Despite their popularity, the processes surrounding the use of SMSFs can often be technical or confusing. Our team demystifies the process by working with our clients and their advisers to understand their financial situation and develop a superannuation strategy to best achieve their objectives. Advantages of putting an SMSF in place Control The trustees are responsible for making decisions on investments Flexibility There is greater flexibility in determining the types of investments that can be made and the Smooth payment of benefits manner and by someone they trust titlements can be distributed in a timely Reduced costs By choosing the types of investments made the members can manage the fees payable

5 Experience an end-to-end service We offer an end-to-end SMSF service, from establishing the fund, providing all associated documentation and setting up the corporate trustee, to providing assistance in investments including preparing geared investment deeds and acting in the conveyance. Whilst the end products are important such as SMSFs, Death Benefit Nominations, Bare Trusts, Custodian Trustees, governing rule upgrades and insurance strategies the true value lies in the strategies and supporting information we develop to ensure these products are understood and working A Will does not cover superannuation A common misconception is that a client can nominate a beneficiary of their superannuation entitlements in their Will. Creating a Will is not sufficient for superannuation entitlements or other key assets and. We can advise on how to make provision for superannuation entitlements and ensure they are directed to the right people. Our superannuation services include: Preparing documents for setting up and ongoing administration of SMSFs Registration of a company to act as trustee of the SMSF Preparing the geared investment deeds to allow the SMSF to borrow funds Establishing Custodian Trustees Drafting trust deed amendments and updates that ensure the SMSF can take full advantage of the unique investment strategies and benefits Advice relating to trustee and member compliance Superannuation proceeds trusts Updating Superannuation Rules

6 Business Succession Planning For your business to survive inevitable change, you need to have a plan. We understand the weight on the minds of many business owners in relation to the future of the business they have worked so hard to build. Regardless of whether our clients are determining how to retire from their business or making plans to provide for a forced or unplanned exit from their Business succession planning involves documenting an exit strategy for circumstances in which a business owner is no longer able to work. The consequences of not having a well formulated business succession plan can be dire for the remaining business partners or for the family of the absent business owner, unintentionally creating a working relationship that may not be maintainable or in the best interests of the business. We take into account asset protection measures, potential risks, the commercial objectives and taxation consequences, along with the personal goals of all business owners in devising the best exit plans for our clients. Our business succession services include: Simple and commercial solutions to complex problems Individual advice Full consideration of how a business impacts on Honesty and frankness in our discussions with your client and their advisers The Redchip team lightens the burden of risk for our clients and provides them with confidence that their outcomes will be achieved.

7 Tax Tax touches everything. You need a plan. In many cases, the strategic advice you receive in respect of taxation will determine whether you receive a good or a great overall outcome. We work with our clients and their professional advisers to remove tax risk in respect of their personal transactions. Our team also provides strategic advice to help identify and capitalise on any available tax concessions and grant opportunities. Our clients benefit from our deep technical expertise and experience in dealing with tax authorities. Strategies to minimise personal risk Asset Protection to acquire from loss. Whether you are self-employed, have a high net worth or want to protect the people in your life, we understand the importance of protecting your personal and business assets from whatever life throws at you. Our approach to structuring an asset protection strategy involves: Understanding what it is you wish to protect Identifying assets that are at risk, or have the potential to be at risk Advising how best to adapt your current circumstances to ensure your assets are protected whilst also advising you on The consequences involved in implementing the strategy Implementing the strategy We bring our wealth of experience from clients across a broad spectrum of personal situations and businesses to the table, to enable us to provide you with a plan that protects your assets from almost anything life throws at you.

8 Our Capabilities We ask our clients who, why, what and when. Then we work out how. We go beyond the legal brief to build a deeper, more robust relationship with our clients because we understand you want outcomes, not conventional thinking. We know you want the problem fixed, the deal to happen.