Succession Planning

In times of economic difficulty it is especially important to try to protect the future of your business after you go. Succession Planning Simplified is a down-to-earth guide to a fairly complex area of financial planning. Part of the growing "Simplified" series.

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Succession planning - planning for the future ownership and management of a business after the death or departure of a key executive - is often left until the last minute - or not done at all. However, the benefits of advance planning can be enormous, not only in protecting the value of the business for the owner's heirs and successors, but also in ensuring a viable future for staff and employees. Succession Planning Simplified is a practical guide to the whole area, including a review of legal and taxation implications of the various alternative types of succession plan, and a thorough explanation of the planning methodology involved. It includes all the most recent changes announced in the latest Budget. The book shows readers how to: *prepare and plan for retirement from their businesses *determine the best way to pass on or bequeath business assets *make use of the tax breaks offered by trusts and tax-efficient wills *create a succession plan for their business *identify potential successors *identify and evaluate alternative exit routes from the business *maximise value in the business before exiting.
Whether the business is to be passed on to nominated successors, or put into trust, or prepared for the action of other agents or intermediaries in the process, it is important to make all the arrangements well in advance. This book shows how.