Succession planning involves passing effective control or ownership of assets, (farm, business or personal), at a time determined by you.

The change in control of land and/or a business and/or other assets, needs to be handled delicately, balancing the interests of all involved. Practical and sometimes creative solutions are required.

We specialise in helping you navigate these challenges.

There are often significant transfer duty and taxation consequences (capital gains tax and GST), associated with the transfer of assets, so that is why we work hand in hand with your accountant and other professional consultants to ensure you are fully aware of the consequences of your wishes and to provide a solution that fits your circumstances.

Primary producers should note the Duties Act NSW will in some circumstances allow the transfer of rural farms between family members, free of transfer (stamp) duty.

Our experienced succession planning lawyers can provide the expertise necessary to deal with your succession plans.