Taming the ‘Seven Dogs’ of business succession planning
No matter what type of business you’re in, it’s important to protect yourself against the unexpected – what we refer to as the “Seven Dogs”: Death, Disability, Divorce, Default, Departure, Disagreement and Deadlock.
When one of these events occurs, often one business owner will want to take ownership and control of the business, and the other owner (or their family) will want funds to maintain their lifestyle.
A lot of questions then arise…
Getting creative with your super nominations
Super nominations do not need to be as boring (and perhaps as inappropriate) as “I nominate my spouse to receive 100% of my super”. Set out below are 7 ways to get creative – and more effective – with your super nominations.