Creating and
Protecting Your Wealth

Ludwig is a client who has built significant wealth and continues to enjoy a high income. He has an ex-wife with whom he has three lovely children, a current boyfriend and another child from a previous relationship. Ludwig works hard and supports them all financially. His youngest son Amadeus has a disability. 

CHALLENGE:

We needed to put in place structures for Ludwig that not only addressed his income, savings and investments but also the long term financial security of his dependents.

SOLUTION:

Peter Vickers and his team have provided the following advice for Ludwig and his family.

  • The business is now operated through a family trust 
  • A second family trust has been set up and now owns the investment property. The land tax implications of this were considered. 
  • His SMSF owns the business property.
  • The son with the disability is concessionally taxed so his trust distributions are calculated to take advantage of that tax concession. 
  • The superannuation for various family members has been transferred to their SMSFs. 
  • Share portfolios have been established in the trust and SMSFs with our investment advice. 
  • The long term security of the disabled child has been secured with an amount set aside for his financial welfare when the parents both pass away. In addition, Life Insurance has been arranged which will provide financially for the child in the event of the premature death of Ludwig. 
  • We have arranged disability and loss of profits insurance for Ludwig incase he has a serious disability. 
  • The business is growing due to coaching from us following monthly reporting and a system of daily and weekly Key Performance Indicators (KPIs) has been initiated. 
  • A One Page Business Plan has been prepared for the business, a BHAG, Big Hairy Audacious Goal has been set and the business and reporting system orientated to ensure that the business is heading towards their BHAG. 
  • Following the receipt of an inheritance from overseas, the ATO queried the source so we handled the subsequent tax audit. 
  • Ludwig has expanded his business internationally. This has meant that his business has been registered in various countries including the appropriate VAT, GST and Sales Taxes and tax returns are being prepared with different tax years. We have also applied for an Export Market Development Grant. 
  • Ludwig wants to sell part of his intellectual property and we have had to consider if he meets the small business tax concessions as well as how to present the business to the prospective buyers.


If any of these scenarios sound familiar to you, do call us as we will be able to help you to create the structures and provide the tools to manage, protect and grow your wealth too. 

Contact Joe Staub on 02 9496 2300 for an obligation free discussion or send us your enquiry.

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SYDNEY


Suite 2, 345 Pacific Highway,
Lindfield, NSW 2070

T: 61 2 9496 2300
F: 61 2 9416 9149
services@pva.com.au


Peter Vickers Insurance Brokers

Suite 2, 345 Pacific Highway
Lindfield NSW 2070
T: 1300 784 011
F: 61 2 9416 9149
enquiries@pvib.com.au

WINDSOR


Suite 3, 31 Brabyn Street
Windsor, NSW 2756
T: 61 2 4577 4455
F: 61 2 4577 5987
windsor@pva.com.au


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