Starting with the end in sight
There are so many things to think about when you are in business. Often your focus is on immediate issues, like where the next dollar is coming from, rather than long term plans. Unless you’ve been through the ups and downs of business growth, downturn, sale or bankruptcy, you might not immediately ask ‘am I structured to make the most of my success, if and when everything goes to plan?’
It’s never too late to get the structure of your asset ownership right. In fact, the earlier the better. To make sure you are structured appropriately, your BDO adviser can help you assess:
- Using different legal structures
- Tax and Income planning
- Ownership of assets
- Private asset versus business risk
- Wealth transition
By getting all of these elements right, you’ll be better prepared to maximise your wealth and implement your family succession plans.
If you’d like a review of your current structure or some advice on how you are structured, call us today.