How often is it said "If anything happened to you, I don't know where I would start in relation to our affairs".
We hear it all the time.
With this simple notion in mind, we have developed a service which we believe will be of real value to everyone. For example, in the event of the death or illness of the business partner, the surviving partner, partners or executors will be able to easily access all the information necessary to fully understand the business affairs and to continue to deal with them without undue delay and stress.
We have called this document the "Family Register" which would contain the following information:
1. Contact details to include:
- Financial Planner, Stock Broker
- Insurance Broker:
2. A comprehensive flow chart of the family business structure(s).
3. Statement of the assets and liabilities of the family group with all assets reflected at current market value and divided into appropriate entities and classes such as; Business, Investment and Lifestyle. It will reflect total Net Wealth on an up to date basis.
4. The Group Statement of Assets and Liabilities will be supported by a detailed statement for each entity.
Details will include:
- Property title copies and the location of the originals
- Share portfolios, details of ownership and where held (broker)
- Cash / Term deposits - account numbers (banks)
- Stock schedules and values
- Plant schedules and values
- Sundry investments schedules and values
- Lifestyle assets (artwork, vintage cars, etc)
- Insurance policies, policy details
- Banks, terms and security held
- Non-banks, terms and security held
- Copy of Wills and Powers of Attorney and where held
The aim is to build up a database for the family. This accurate information then be summarised and is readily available, not only in situations of death or sickness, but for:
- Family Meetings
- Revising Wills
- Financial Applications
- Investment Planning
- Retirement Planning
- Succession Planning
- Estate Planning
The data will be store both electronically and in a hard copy which can be kept at either the family's office and/or at Brentnalls SA. Details will be updated annually.
We will build the Family Register from information already held by Brentnalls SA and from additional information provided by you or from your solicitors, bankers and other sources.
It is anticipated this service will provide peace of mind for all clients and their family. It will also result in significant savings in time and money in the event of a death or when undertaking any form of planning or restructuring work.
If this is of interest to you and your family, please contact our office to arrange a time to prepare your Family Register.
If you would like to print this information please click here for PDF format
The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation.
It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.