Business Succession

Your business is an important part of your legacy. Let us help you ensure that it remains for your loved ones

WHAT IS BUSINESS SUCCESSION?

Business Succession planning ensures that your valuable business will carry on running after your demise. This planning also tries to maximise the value of your business for your loved ones.

Our estate planners will work with you understand your intentions for your business after your demise and device a plan to achieve those wishes through a set of estate planning tools.

GROOMING A SUCCESSOR

One important aspect of business succession is to find a suitable successor that you believe can take over the business and continue to grow it. 

Finding such a person is not something you can do in a matter of days or weeks, but potentially years. It takes deliberate planning and execution to achieve a desirable outcome.

MAXIMISING VALUE

Another important aspect of business succession is that of ensuring that your surviving loved ones get to enjoy the fruits of your labour even after your demise.

However, without making appropriate arrangements and documenting them down, this desired outcome may not happen.

Why you need Business Succession

Benefits of Business Succession

  • BUSINESS CONTINUITY

    Succession planning allows owners to preserve their legacy and the future of their business.

    IMPROVED VALUE

    TrustS can protect your assets from being divided in the event of a divorce, both your divorce or that of your beneficiaries.

    TAX SAVINGS

    Proper planning can result in significant tax savings for the business and for yourself.

  • LEGACY PRESERVATION

    A well-planned succession ensures the continued success of the business after you retire or pass on.

    AVOIDANCE OF DISPUTES

    A clear plan for succession can help avoid disputes among family members, partners or shareholders.

    IMPROVED EMPLOYEE MORALE

    A solid succession plan can boost employee morale and ensure a stable work environment.

Process

This is the process we use to help you develop Business Succession Plan

INITIAL CALL

We start with a "no obligations" call to understand your needs, to determine if we can provide a business succession solution suitable for your needs and at a price point you are comfortable with.

CONFIRM ENGAGEMENT

Once you are comfortable with the process and pricing, we will confirm the engagement with you signing the Letter of Engagement and make a deposit payment.

FACT FIND

Next step is to take inventory of your businesses and assets, to understand who are your intended beneficiaries and successors and to finalise the required estate planning tools to effect the plan 

REVIEW AND AMEND

After the Fact Finding process is done, a draft of the various estate planning tools (like a Trust Deed) will be made available for your review and clarification. Amendments can be made at this stage to accommodate changes in intentions. 

FINALISE AND SIGN

Once the draft documents are approved, we will arrange to sign the various estate planning documents. Any final payments will be made at this point. 

Pricing

Starting cost for Buy-Sell Agreements drafting. Final cost depends on complexity of instructions.

BUY-SELL

Trust drafting fees are in SGD and start from
$8,000
Before GST

TRUSTEE FEES

Annual Trust administration fees in SGD and start from
$3,000
Before GST

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