What is Business Succession Planning?
Business succession planning refers to a planned course of action that outlines the transfer of ownership of your business to another. The need for succession planning isn’t immediately obvious but is a smart step to take to secure the future of your family business from unpredictable life events. The succession planning process involves:
- Recording assets
- Declaring beneficiaries
- Appointing of an accountant to act on your behalf in the event of incapacitation
- Advice on the implications of changing ownership arrangements (e.g. beneficial to transfer sooner rather than later? which business structure to use?)
- Revision of any existing plans based on changes in circumstances or tax laws.
The Swinstead Approach
Julia has a reliable track record working with a diverse range of clients including FIFO workers, tradespeople, home based businesses, freelance businesses, personal service businesses, family trusts, companies, partnerships, not for profits and sole traders to mention a few.
Swinstead Accounting is fully insured and when working with Julia, you can expect honesty, reliability, punctuality and adherence to deadlines. You can also enjoy the flexibility that comes when working with a mobile accountant with an emphasis placed on consistent and clear communication.
- Qualified mobile CPA, best Master of Accounting at Curtin University
- Expert at major accounting packages including Xero, MYOB and QuickBooks
- Experienced in creating business succession plans for businesses across Perth