Many people don’t even consider succession planning until it is close to retirement or too late to make any meaningful improvement on your hard-earned nest egg. But here is the practical reality, the younger you start planning for your retirement the better placed you will be to have a retirement without having to rely upon ever dwindling pensions or to watch every dollar in your pocket.
There are simple things that can be done in order to set you up for your retirement. The use of Self-managed super funds and trusts may assist you in reducing your tax overheads while increasing your investment.
Understanding the operation of succession in can be complex and difficult. Queensland Law Practice can assist you to set yourself up for removing yourself from a business to setting yourself up for your retirement.