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We recognise that operating a business is often all-consuming, but it is important that business owners take the time to consider what they wish to happen to the business in the event that they can or wish to continue to operate it.

A business succession plan is the creation of a legal framework to allow for the transition of assets and control between generations or owners. It does not necessarily mean that the transfer of assets happens immediately, instead, it is a process whereby the general terms of transfer are agreed and the legal structure is created to allow for the implementation of the plan over time.

Mellor Olsson can help you by ensuring you have a succession plan in place and a structure that will allow the plan to be carried out when the time comes. A good succession plan can help to ensure the continued success and growth of your business, limit current and future tax liabilities and in the case of family businesses, help to preserve the harmony and goodwill between family members.

We recognise the need to work closely with all of your advisors, such as accountants, financial planners and bankers, when formulating a succession plan so that each objective and the potential implications of any changes are well considered.

Whether you need some guidance about possible options, a total restructure of your business structure, supporting documents such as Shareholders Agreements and Buy/Sell Agreements, Mellor Olsson can assist.

Service Offering

Advise on and draft shareholder agreements

Crafting a well-defined shareholder agreement is crucial for safeguarding the interests of all parties and ensuring smooth business operations. At Mellor Olsson Lawyers, our expert Commercial lawyers specialise in advising on and drafting shareholder agreements tailored to the specific needs of South Australian businesses. We focus on creating agreements that clearly outline shareholder rights, responsibilities, and mechanisms for resolving disputes, thereby providing a solid foundation for business continuity and succession planning. Our team is committed to delivering comprehensive and precise legal solutions that support your business’s stability and growth.

Capital Gains Tax advice

Navigating Capital Gains Tax (CGT) can be complex, especially during business succession or restructuring. Mellor Olsson offers strategic guidance on minimising CGT liabilities, optimising tax outcomes, and ensuring compliance with current regulations. Our team works closely with you and your accountant to develop tailored solutions that align with your business objectives, whether you're planning a sale, restructuring, or transferring ownership.

Review and creation of legal structures for holding assets

Establishing the right legal structures for holding assets is essential for optimising protection and managing business risks. Our expert Commercial lawyers specialise in the review and creation of legal structures designed to safeguard your assets and support effective business succession and restructuring. We work closely with South Australian businesses and their advisors to develop tailored structures, such as trusts and holding companies, that align with your strategic goals and ensure compliance with regulatory requirements. Our team provides comprehensive advice and solutions to enhance asset security, streamline management, and facilitate smooth transitions.

Review and update relevant estate planning documents

Keeping estate planning documents current is crucial for ensuring that your business succession plans align with your evolving needs and objectives. Our lawyers offer thorough review and updating services for all relevant estate planning documents. We work closely with businesses and their advisors to ensure that wills, trusts, and other estate planning instruments accurately reflect your wishes, comply with current laws, and address any changes in your business or personal circumstances.

Stamp duty advice

Navigating stamp duty regulations can be a challenging aspect of business succession and restructuring. We help you understand and manage stamp duty implications associated with asset transfers, business sales, and structural changes. Our team offers strategic guidance to minimise your stamp duty liabilities and ensure compliance with current legislation, enabling you to make informed decisions and optimise your restructuring outcomes.