Financial Planning for the Family in Business

Financial Planning for the Family in Business

Our Wealth Management and Financial Planning Review Service

One of the key issues that should be addressed in the area of Financial Planning is establishing wealth independent from the family business. Most often the founder’s personal financial resources are inextricably linked with that of the business which creates significant problems when an exit or intergenerational transfer is contemplated.

A detailed Financial Planning review would include:

Mapping out the likely future cash flows of the exiting generation to determine whether they have sufficient capital to no longer need income from the family business.
Creating a retirement planning strategy that builds wealth outside the family business in a tax-effective and low-cost way.
Estate planning and building an effective inheritance tax mitigation plan.
Hosting a family conference to discuss intergenerational planning and how to best prepare for it.
How to build a robust and effective investment strategy.
Creating a tax effective giving and philanthropy strategy for the family business and the business owners.
Creating an ongoing income for the next generation by way of salary, preference dividends or an annuity for example.
Catastrophe planning. Reviewing the implications of the death or sudden illness of a key family member or key employee.
Extracting wealth from the family business tax efficiently.
Creating team retention programmes through employee benefits and stock option planning.