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 J MCKNOULTY
Peter McKnoulty FTIA works for McCullough Robertson. Peter has degrees in Commerce and Law (with Honours) from the
University of Queensland. He has been a Partner in the Queensland
legal firm of McCullough Robertson since July 1986 having been admitted as a Solicitor in 1983. He practices in all aspects of the Commercial Law field with an emphasis on estate planning, taxation, tax planning, business structuring and business law generally and is
the senior partner in the firm’s Business and Revenue Division.
Current at 1 August 2008 Current at 30 September 2008
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