Published on 06 Aug 13
by QUEENSLAND DIVISION, THE TAX INSTITUTE
Dealing with families is often fraught with danger and planning in advance is critical. The advisor can play an important role in safeguarding both the wishes of the family and the asset base accumulated over the years. This paper explores some of the issues that have arisen in his experience as an advisor to high net wealth private groups. Itl covers:
- intergenerational transfers of family business and investments – succession planning
- the real family issues – operators and non-operators; non-business assets; timing and personalities
- developing a family succession strategy – problem heirs
- implementation and technicalities – intra-family agreements and family constitutions; wills and enduring powers of attorney; updating the documentation.
Peter is a Consultant at McCullough Robertson, having been a partner with the firm from July 1986 to December 2011. His practice focuses on tax and commercial law with an emphasis on estate planning, taxation, tax planning, business structuring, business succession and family business intergenerational transfer. He is also the Founder of Transition Planning Australia, which helps business owners, professionals and others plan the transition from business or full-time work to the next phase of their lives. Its programs help to develop work-life balance at all stages of a career. TPA’s belief is that everyone is entitled to a happy and healthy life both during and after full-time work. Peter has degrees in Commerce and Law (with Honours) from the University of Queensland.
- Current at
12 July 2018