Business Succession

At Optimus Private we have many years of experience in helping our clients make sure that the wealth they have created in their businesses is preserved for their beneficiaries. We use our knowledge in taxation, financial planning, estate planning, law, asset protection and restructuring to ensure our clients have a business succession plan in place.

We address the following issues with our clients to ensure they have an adequate strategy in place:

• Have you considered who is going to take over your business in the event that you pass away or wish to retire?
• Are your business partners in a position to buy you or your estate out?
• Do you have a properly drafted agreement which addresses the above issues and also provides for other contingencies such as your fellow business partners being forced to leave your business due poor performance or absenteeism from ill health?
• Do you have appropriate insurances in place to cover the loss of key personnel in your business?
• Have you given personal guarantees for loans made by the business?
• Do you have an exit agreement in place to you leave your business in an orderly manner and be paid for your equity?
• Have you determined what your business is really worth?
• Will you be able to sell your business to fund your retirement?
• Do you have arrangements in place for the continued running of your business in case you have to retire?
• Do you have a board of directors who can keep the business going if you are not able to work?
• Have you developed systems and procedures to make sure business does not rely solely on key personnel?

Asset Protection

We place an emphasis on making sure our clients are structured correctly to protect their assets and to provide them with optimal tax planning flexibility before they embark upon their journey to create wealth for their retirement and for their children.

Frequently this is an area where not enough focus is made, leaving your assets exposed to the risk of litigation.  If you are involved in business or a risky occupation such as a company director, you could become subject to litigation.  If your entities are not appropriately structured or you have assets in your own name, these assets could be exposed in the event of action being taken against you.