Harold Sharp can help you solve the challenges of succession and access significant tax advantages along the way.
Succession planning is an essential part of many owners’ responsibilities and needs early consideration, lest you seriously limit your options and find yourself unable to take the steps needed when the time is right for you to reduce your input. Good succession planning can be a very powerful exercise, achieving a multitude of positive things in one integrated reorganisation of ownership structure.
Typical objectives which are taken care of in our plans, include:
- A timely transfer of control and initiative to the next management team
- A highly tax efficient extraction of value for the owner (or for the owner’s family if you don’t want or need the extraction yourself)
- A deal which involves only corporate obligations and no personal exposures for the new team
- The owner’s retention of certain rights and rights of veto over the new team’s actions, if desirable
- The owner’s ongoing working arrangement, for income
- A new structure which lends itself to asset protection
- A perfect opportunity to access low-cost stakeholding options for key employees whom the new team might like to incentivise
“We follow a simple principle laid out by our founders: It’s not about keeping up. It’s about staying ahead.”
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It’s our job to clear the way so you can focus on what inspired you to go into business in the first place.
Find out more about how Harold Sharp works, and how we can help you.