Wednesday February 21, 2018


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What matters do you need to think about to start you on your journey?

Initially you should undertake the following analysis:

  • prepare a list of your assets and liabilities – this is a good starting point.  Your latest financial accounts will help, but remember they are prepared from a historical accounting basis so you will need to re-value assets at their market price;
  • prepare an outline of your financing requirements – do you have the ability to borrow more, and using what collateral?
  • prepare an outline of your future business activities – is your objective to increase sales organically, or buy a similar business and merge the two entities, or some non-business investment?
  • prepare an outline of your family circumstances – write down each family member’s ambitions, needs – then check with them to see if they reconcile;
  • calculate your anticipated future income and assets – do these match your expected returns from the business?
  • decide what future threats may affect your assets, and your income earning ability – e.g. incapacity, family illness

You should next consult Currie Lawyers to work through the issues that have arisen out of your asset planning exercise.


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