Succession Planning is about what happens next; tomorrow, next week, next year. It’s not a bad idea to plan! Succession planning is important for the home and family and we assist our clients in areas such as:
- Enduring Power of Attorney (EPA)
- Income Protection
- Life & Disability Insurance
- Critical Illness (Trauma) insurance
- And…our One Page Plan
By planning ahead, we create greater certainty in times of accidents, illnesses, retirement, untimely death or other major life changing occurrences.
For a Business, there are additional issues.
- How does the business survive if an Owner or a Key Person in the business leaves?
- If the departure is sudden, what impact might there be on Revenue, Profit, Morale?
- Does the functionality of the business allow for the sharing of critical knowledge?
- Are Key People able to be replaced?
- How easy is it for an owner to leave and can they achieve the value that they’ve planned for?