Family Law

  • Family law
  • Children’s law
  • De-facto relationships
  • Child support
  • DNA testing
  • Elder law
  • Child recovery orders


Contact us to find out more or to arrange a consultation with an experienced family lawyer in Armidale.

Criminal Law

  • Criminal law
  • Violence orders
  • Advocacy
  • Legal aid
  • Traffic matters
  • Tribunals
  • Court trials
  • Juvenile court matters


Contact us to find out more or to arrange a consultation with an experienced criminal lawyer in Armidale.

Property Law

  • Wills
  • Estate planning
  • Property law
  • Rural & residential conveyancing
  • Commercial property & leasing
  • Dividing fences
  • Neighbourhood disputes
  • Retirement villages
  • Tenancy matters
  • Building and construction claims


Pexa Member

Contact us to find out more or to arrange a consultation with an experienced property lawyer in Armidale.

Business

What is business succession planning?

A business succession plan outlines what will happen and who will take over your business when you leave, whether by choice or by circumstance. The aim is to provide the business with a smooth transition so that disruption is minimised.

Read more
Process of succession planning

Each business is different of course, but you will likely need to consider

01

Goals and objectives of all parties

  • Do you require an ongoing income from the business?
  • Will you have any future involvement in the company?
  • Who is interested in taking over?
  • What impact will there be on all members of your family?

02

Consider all the angles

  • Minimising Capital Gains Tax, Stamp Duty and Income Tax for you and your family and remaining partners
  • Retirement income planning
  • Financial implications of business transfer

03

Identify your potential successors

  • Objectively assess their capability, needs, commitment, skills and experience

04

Contingency planning

  • What will happen in the case of catastrophic injury or death?

05

Corporate structure issues

  • Define roles and responsibilities of current family members and employees

06

Business valuation

  • Plan to increase the value of the business particularly if it is to be sold

07

Exit strategy

  • What are the training or mentoring needs of your successor?
  • How will you exit and by when?

07

Exit strategy

  • What are the training or mentoring needs of your successor?
  • How will you exit and by when?

Contact us to find out more or to arrange a consultation with an experienced business succession solicitor in Armidale.

We can help

These are complex issues, spanning legal, financial and management arenas. At Rice More and Gibson
we can help make sure you have covered all bases.

The initial consultation is free *

* Must mention the website at time of booking. First 30 minutes free.

Contact Rice, More & Gibson

Get in Touch

Rice More & Gibson Solicitors

The Office

  • Address: Top Level, Robertson House, 149 Beardy Street, Armidale

  • Phone: 02 6771 5788

  • Mail: PO Box 551 Armidale NSW 2350

  • DX: DX 6044 Armidale

  • Fax: 02 6771 5799

  • Email: admin@rmglaw.com.au

Business Hours

  • Monday - Friday - 8.30am to 5.00pm Closed from 1.00-2.00pm
  • Saturday & Sunday - Closed