Elodus Financial

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Succession Planning

Managing the transfer of wealth and other personal and family assets from one generation to another – it is often a lot simpler than it seems.

What we offer

Elodus will work with you to develop a succession plan that ensures the transfer of assets to your family in the most tax effective way and in doing so, enables you to pass on your legacy to future generations.

Often complex, especially when there are a several children, siblings and spouses involved, succession planning is a specialist service that requires experienced and talented advisers.

Case study

Peter, a farmer, needed to retire for medical reasons but was unable to.  With a limited income, large debt and no lifestyle, he and his wife, Julie, constantly worried about their financial position and future.  Peter expected he would never be able to stop working.

Working with their accountant and banker, we assisted Peter and Julie to put together a succession plan to meet their needs.  This involved restructuring assets, clearing debt and brining Peter and Julie’s son Joshua, who hadn’t worked on the farm in years back into the business.

The farm now has new life and is growing.  Joshua has assumed control over time and will ultimately have legal title to the other assets.

Peter and Julie have been able to retire, build a new house and replace their car.  Their income has increased to guaranteed levels far beyond their expectations and they are now able to travel annually.

More information

For more information, contact us today.

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