Elements and Performance Criteria
- Identify estate planning requirements
- Identify and assess contingency and succession arrangements against enterprise and individual requirements
- Identify and evaluate income continuation options to find best fit for enterprise requirements
- Identify and distinguish personal and business goals
- Consider needs of those affected by succession arrangements in estate planning
- Clarify estate planning arrangements
- Make clear plans for retirement and inheritance to all relevant parties
- Consider legal and financial implications of succession planning in determining succession arrangements and estate distribution
- Discuss, clarify and mediate apparent inequities in estate distribution
- Seek external advice as required to clarify obligations and potential effects on business performance
- Implement estate planning
- Determine and implement strategies for estate distribution and succession
- Monitor and review estate structures and transfer arrangements against tax and legislative requirements
- Monitor estate planning and succession against enterprise performance
- Complete relevant documentation to meet legal and procedural obligations