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Sucession Planning

CooperAitken explores the importance of an Estate Plan, what this should cover and who should be involved.

Having a correct and up to date Estate Plan can avoid unnecessary delays, extra costs and additional stress.

Its also vital that the correct people our involved in your Estate Plan, many farming busienss structures are complex with companies and trusts involved,  your accountant and lawyer are necessay to make sure these complex aspects are aligned in your Estate Plan.

Most people meet regulary with their accountant to manage issues - tax planning, financing requirements, ACC, stock valuation, asset protection etc as a result your farming and business structure can often change and this needs to be reflected in your Estate Plan.

Avoid situations where you think you have left assets to children in your Will but the asset are in a Trust and the Will does not have the power to distribute these assets

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