SUC­CES­SION PLAN­NING

South Waikato News - - RURAL DELIVERY -

En­sure you have a share­hold­ers’ or sim­i­lar agree­ment on what is pro­posed if you want to exit the busi­ness. Do you want to be paid the mar­ket value of your shares?

Over what pe­riod of time will you al­low these pay­ments to be made?

Where you own the busi­ness premises, it is of­ten a good plan­ning mea­sure to trans­fer the prop­erty to a sep­a­rate en­tity and for the busi­ness to pay rent. This helps pro­vide an on­go­ing rental stream to you.

Trusts are not about rip­ping off the tax depart­ment – they are a must for as­set pro­tec­tion.

If you con­sider it is best to place the busi­ness in the hands of fam­ily mem­bers who are work­ing in the busi­ness, then de­vise a way to com­pen­sate them with an

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