What would happen to your business if you died or became unable to make decisions? Would someone have the authority to pay staff, manage the company and protect the value of the business?
In this episode, Lidia Vicca brings together the key estate planning considerations for business owners who operate through companies and trusts. She discusses the documents that can help a business continue through an unexpected change in leadership, including a company constitution, company power of attorney, shareholders agreement and trust succession arrangements.
Lidia also explores why owners of multiple trusts should periodically review whether each structure still serves its intended purpose, with input from their accountant and other advisers.
Common Questions Answered in This Episode
What happens to my business if I die or lose capacity?
Does my company need a constitution?
What is a company power of attorney?
Who can make business decisions if the sole director becomes incapacitated?
Why do business partners need a shareholders agreement?
What happens to my shares if I die?
Who controls a family trust after the appointor dies?
What is a deed of succession for a trust?
Should I review trusts that are no longer being used?
How can I include business succession in my estate plan?
Does someone owe you money? Your first step is demanding repayment! Download our FREE letter of demand template developed over 15 years of disputes practice: https://lidia-vicca.mykajabi.com/letter-of-demand
Don't forget to like, subscribe, follow and share The Vicca Law Podcast.
Visit our website www.viccalaw.com.au.
Ready to take the next step? Call us on 07 3184 9940 or visit our website www.viccalaw.com.au to book a FREE consultation.
Don't forget to follow us on socials and keep up to date with the latest news: