Meet Geoff and Sue

Geoff and Sue are aged in their late 60’s and have been running their successful family business for more than 25 years, the want to plan for a gradual transfer of their business to a long term staff member and to plan their life after work.

Where We Started

A mix of business succession and life planning issues included:

  • Geoff and Sue were busy running their business and hadn’t taken time out to plan for retirement
  • Reliance on the sale of the business to fund their retirement
  • Succession planning in the business – they were at the early stages of discussing with a potential buyer about taking over the business
  • They had other real estate assets in their own names as well as the family home.

What We Did Together

  • We engaged Business Advisory team to analyse and better understand the value of the business.
  • Geoff and Sue negotiated the sale of part of their business a key staff member
  • We were able to use generous superannuation concessions available only to business owners to contribute business sale proceeds into superannuation
  • We worked to establish retirement income streams for Geoff and Sue
  • We managed to build sufficient financial resources for Geoff and Sue to live a comfortable lifestyle with the knowledge that their retirement nest egg is never going to run out.
*This scenario is based on a real client situation, however names have been changed to protect privacy