×

A hint for anyone with companies or trusts

Girl playing chess

A key piece of information you can pass onto those clients whose wealth is tied up in structures – most likely a large proportion of your client base – is that having a Will simply doesn’t cut it for transferring their wealth when they pass away.


A Will is ideal for transferring assets that your clients personally own. Assets that sit in companies or trusts, however, are not personally owned by your clients, and therefore cannot be gifted in a Will. Rather than transferring the actual assets, your clients need to consider the transfer of control of their structures, thereby also transferring control of the assets within them.

Appropriate Estate Planning will consider the rules and roles of the relevant structures (as outlined in the company constitution, shareholders’ agreement, terms of the trust deed, etc) to ensure a suitable and legally binding solution is achieved.

Don’t forget to use our Kick Start Your Client’s Estate Plan tool to highlight any complex issues your clients may need to consider when forming their Estate Plan.

If you are unsure about your clients’ Estate Planning needs, call us on 07 3223 6100 or email iant@redchip.com.au to discuss.

Back to Articles
Redchip

Recent Articles

adult-black-and-white-collaboration-935870
Shareholders Agreements & Business Exits

In this presentation, directors Ian Tindale and Peter McLaughlin discuss how clear planning at the outset of a business venture with the preparation of a shareholders agreement can impact when it comes time to exit.

Read more
simon-abrams-286276-unsplash
Webinar: CGT Rollovers Roundup

In this webinar for accountants our tax expert, Trung Vu, rounds up the most interesting CGT Rollovers, providing an overview of each rollover and what to look out for.

Read more
jp-valery-199414-unsplash
Dodge the deer in the headlights this election

The current catch cry from business and property owners is “we’ll wait to see what happens after the election”. I’ve been hearing it for months, yet the election has just been called and it’s still a month away. Imagine the opportunities that will have come and gone in that time.

Read more