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You are here: Home / Key service areas / Business succession & Estate planning

Business succession & Estate planning

Skip to: Business succession plans | Personal wills | Powers of attorney | Family Trusts

Business succession plans

Ensuring the successful transition of a business from one owner to another represents a major challenge in terms of both:

  • Keeping the business going and maintaining supplier and customer relationships; and
  • Minimisation of tax, stamp duty and product/professional liability issues.

Tyler & Co understands the importance of both aspects and takes a pragmatic approach to assisting clients plan and implement the change of ownership. To ensure a smooth transition, Tyler & Co can:

  • Design a business succession plan which preserves the value of the business;
  • Draft agreements to transfer ownership tax-effectively; and
  • Help you manage the change of control so as to avoid disputes.

Personal wills

Writing your will not only avoids the rigid (and sometime unexpected) consequences of the fixed statutory rules that apply if you die without a will, it also offers a wide range of options for distribution of your property. Depending on the nature of your assets, it may also offer considerable tax-saving opportunities.

Tyler & Co understands both the very personal nature of decisions about distribution of your property and the significantly different results that can occur, depending upon how you leave it. We take a methodical approach to reviewing your particular circumstances and advising on the options available to you.

To help you understand the issues and decide what to do, Tyler & Co can:

  • Analyse your circumstances and advise you on the options available;
  • Draft a will that accurately reflects your wishes and (so far as possible) minimises the risk of subsequent challenges; and
  • Ensure that your wishes are carried out when necessary.

Powers of attorney

Disability can strike when it is least expected and often creates greater difficulty than death. In such circumstances, most people would prefer to have their wellbeing and property managed by a person of their choice, rather than rely on expensive court processes and statutory rules.

Tyler & Co understands the very personal significance of such choices and takes a practical approach to appointment of personal representatives and management of property.

To help you understand the issues and decide what to do, Tyler & Co can:

  • Review your circumstances and advise you on the options available;
  • Draft a power of attorney and appointment of guardian(s) that accurately reflect your wishes; and
  • Advise you on your powers and duties if you have been appointed as someone’s guardian or attorney.

Family trusts

Trusts represent a very flexible method of holding assets and distributing income and capital gains, whether for business operation, investment, asset protection or tax-reduction purposes. No matter how many times the demise of trusts has been predicted, new uses continue to be found for them.

Establishment of a trust requires careful long-term planning to maximise its effectiveness and (so far as possible) to avoid unexpected consequences (including extra stamp duty and tax costs) if circumstances change. To assist you to achieve the best outcome, Tyler & Co can:

  • Analyse your requirements and advise you on the options available to you;
  • Draft a trust deed tailored to your particular requirements;
  • Assist you with procedures and documents required for management of your trust; and
  • Advise you on and implement subsequent amendments to your trust deed.
  • Key service areas
    • Business structures
    • Business succession & Estate planning
    • Business transactions
    • Employment & contracting
    • Finance & securities
    • Protection of assets
    • Purchase/sale of assets
    • Granting or taking rights over assets

Contact

Phone:+61 2 9966 1799
Email: lawyers@tyler.com.au

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