Highly ambitious individuals don’t work one day and retire the next. However, your priorities will change as you move through career.

As you begin to wind down your working hours and step back from the day-today of running your practice, you might want to supplement your income with a pension from your super to maintain your income. If you’re eligible, we can put in place a transition to retirement strategy that lets you do just this.

When considering how to exit your practice, your first big decision could be whether you want to sell your practice or set up a succession plan. Either way takes careful planning and preparation. We can advise you on what type of ownership transfer is best for you.

If you sell, we can advise on the right way to go about it, such as trade sale, management buy-in / buy-out, initial public offering (IPO), private equity, gift or orderly wind down? Different forms of sale have different advantages and we will work out which best suits your circumstances.

We can also help with tax management, timing of the sale and even ways to retain equity for the future.

It’s understandable, but untrue, to think that estate planning conversations are about death. They’re about how you can help the people and causes you love after you’ve gone. When you’re not there to help them in person, that job passes to the legal and financial structures you create.

Think about it that way and you can see that wills, estate plans, powers of attorney and trust structures are how you extend a helping hand long after you’ve gone. At Sovereign, our job is to help you do that as easily, efficiently and fairly as possible.