Succession Planning2023-10-20T01:31:10+00:00

Succession Planning

Plan for what you want to do after your business

Let’s Plan Your Future

Let’s Plan Your Future

Inevitably, every business will need to either undergo a change of ownership, or face the prospect of closing down. To ensure the long-term success of your business, it is vital to establish a succession plan and to establish it as soon as possible. Having a succession plan in place not only ensures maximum value to the current owners, but can also demonstrate business stability to investors, banks, and employees, as well as both existing and potential clients.

A well-executed succession plan will provide security and minimise stress for all involved. Succession planning helps maximise the business value and ensures the company is prepared for all possible outcomes.

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Estate and succession planning in Melbourne

Succession planning can be as complex – or as simple – as you need – it all depends on your business.

Our understanding of succession planning best practices and succession management means we can help you explore your options and discuss what you want to achieve should you ever not be around or able to do so. A family business succession plan will protect your operations and provide the best chance of company success.

Why Work With Us?

Allied Business Accountants will help you

  • Business value optimisation
  • Strategy development
  • Legal considerations
  • Taxation considerations
  • Risk management strategies
  • Skill retention strategies

Undergoing the succession transition of your business can be a highly stressful process. With over a decade of experience between our accountants, we have gained the knowledge and skill set required to ensure the complexity of a succession plan is carried out effortlessly.

What is the succession process?

The first step in creating a succession plan is to understand business structure. This includes the critical roles of people and organisations in the business as well as who has control and what will need to change.

Understanding includes understanding the end game, what are the personal and business goals.

We identify and try to mitigate risk in the succession planning process. Unprepared successors, financial incapacity, bankruptcy or divorce can each be a hazard for successful succession planning.

A good succession planning strategy minimises or identifies tax issues and ensures legal obligations or implications are met. Succession plans need clear goals and processes to ensure the plan is fulfilled. Deadlines should be closely monitored on an ongoing basis.

When a trigger event occurs, the strategy is implemented then transitioning the business or assets to the successor(s) begins. Peace of mind succession planning is a non-negotiable.

What our Client Say About us

We’ve been using Allied Accountants for 8 years, and couldn’t imagine going anywhere else. David is always available to respond to emails and quick return missed phone calls. He’s friendly, upfront, professional and his services are affordable. If I could give more than 5 stars I would

Rachelle Williams

Thanks to David and his team as they are exceptional accountants and always surprise us by how knowledgeable they are in a wide range of fields. For almost a decade, Allied Business Accountants have facilitated the financial structure of our business and have maintained our financial records up to date in a timely manner without headache from our end, or us worrying about missing any deadlines.

Dureka Pty Ltd
I am forever grateful to David for all those years he has invested his attention in my financial affairs and financial strategy. The outcome has enabled me to have the financial freedom and quality of life that I thought I could only dream about. I would highly recommend David and his team.
Tracey Willett

I have found Allied to be understanding, cooperative and right up to date on current accounting and tax issues. They have guided me through establishing and administration of our Self Managed Super Fund which has supported my retirement. I appreciated direct contact with senior management and would recommend Allied to any person requiring advice and support for their financial matters.


David was an absolute star, after being referred to him for some accounting advice for our small business, he knew exactly what we needed and there was no hassle and was very straight forward. Highly recommend this business for your accounting needs.

Nermeen Naguib

We have recommended Allied to a number of clients and received fantastic feedback.

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