Many family businesses in Australia operate through private companies, with shares issued to family members. However, it’s often misunderstood that a Will controls company assets - it doesn’t. The only aspect a Will can direct is the shares your client personally holds.
Have you reviewed how your client’s company structure impacts their estate plan?
Key considerations include:
Company governance and structure.
Whether the business operates as a trust or holds assets directly.
The share structure (ordinary, preference, voting, or dividend access shares).
It’s important your client considers who inherits their shares, as this determines who will assume the rights, per the company’s constitution and shareholder agreements. Help them review these documents, especially any agreements that allow others to acquire shares upon death.
Note: Always consult with a lawyer before making any changes to a client company or estate plan to ensure compliance with legal requirements and protect your client’s best interests.
Inherit Australia provides advisers with a structured estate planning facilitation process to ensure that client interests and wishes are maintained as part of their estate plan.
Comentários