Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.
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As new General Manager Zachary knew and had worked with Hugh Bowden on tax and accounting in his previous company role, he naturally leant on Hugh to assist with structuring and transitioning Armitage Group from the legacy the founder had left.
Often when one of your children are involved in your family business or farm this creates disparity for your other children in the event of your death.
A simple solution can be using Life insurance to enable your child involved in the business to buy your share of the business from the estate.