Published On:Tuesday, 19 May 2015
Posted by Chaudhry

How to do better Business succession and Wealth planning successfully?

How to do better Business succession and Wealth planning successfully?
AS a very successful businessman you have created sizable business and wealth and you are High Net Worth Individual (HNI). Like most businessman have you plan about future and asked following question to yourself?  If you have not thought about following questions and plan, you are not alone. Many most successful businessman of our time, did not plan his business succession which resulted in to dispute, closer of business or both.
Here are reality cheque questions for you?
  1. In case if you wish to retire from your business how your partner(s) will pay your fair share of your business?
  2. In case of death of either partner or one of the partners death , how your business / company will pay deceased partner's share to his / her spouse and children?
  3. In case you are alone in business and has two and more children and all or one of them do not wish to join business, how will you distribute your business assets among children?
  4. How will you pass on your assets from generation to generation and not close your business by third generation?
  5. How will you reduce risk by investing in to different assets and different countries and not one type of asset and one country?
  6. How will you create Capital Wealth Creation and Net worth Maximizing and Enhancement?
  7. How will you make sure all your business debts and personal guarantees are paid off and all your assets are protected?
  8. How to secure your family from your business creditors?
  9. How to take advantage of Global market?
  10. How will you donate big amount of money to a charity of your choice without liquidating your assets?
  11. How will you arrange for your children's foreign education and get them dual residency and citizenship?
  12. How will you expand your business internationally?
Reality of world's wealthiest businessman is that most business fail to ask above questions which results in to family disputes and misery for all.

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