Succession Planning

In New Zealand there is a huge economic concern in relation to the baby boomer business owner heading for retirement. There is the potential for a whole lot of businesses to come flooding on the market, devaluing it’s sale price or closing shop full time.

We challenge all our business clients to consider alternatives to selling their business at the end of their working life. Succession Planning is one way of bringing that ‘right person’ through the company, instilling the core values and culture and providing stability for both the staff and clients alike.

Talk to your accountant regarding how to extract capital payments out of the business over a period of time and your solicitor regarding shareholder agreements.

So.... What does this have to do with insurance

There are risks associated with a key person within the succession plan. The death or permanent disablement of any of these people will put the plan at great risk for all parties. We will ensure this is protected in a way that everyone benefits. Extraction of capital payments to ensure estates are settled and ownership is sorted is a critical aspect of a good succession plan.

Nobody wishes for early succession, but it’s something we all need to be ready for, should the worst happen.

It’s not unusual for a business owner to have a ‘mental succession plan’ without having fully realised their intentions and considered all possible outcomes and permutations. Business Insurance makes sure your wishes are actually carried out.

Want balance in your life, ensuring you have the right amount of everything?  Share your hopes and dreams.  Plan your future and let me help you make sure you have peace of mind along the way.

Amy Callon
Financial Adviser
New Vision Financial Services

Plan your future and let us help you have peace of mind along the way.