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Overview:

Fixed Legal Fees

 

Terms and Conditions:

Legal Fee Policy Concessional Legal Fees

Concessional Legal Fees

Reduced Legal Fees

Original Beneficial Ownership

 

Additional Service Fees:

Additional Fact-Finding Fees

Variations of Draft Agreement

 

Initial Agreements:

Initial Agreements

Content of all Agreements

Current Legal Fees

Inadequate Insurance Proceeds

Trauma Buy/Sell Strategy

 

Alternative Initial Agreements:

Complete (BITA)

Complete (Hybrid BITA)

Simple (Self-Owned BSA)

 

Proprietors Agreements:

Proprietors Agreement

 

Debt Reduction Agreements:

Debt Reduction Agreement

 

Other Services:

Variation Agreements

Meetings and Advice

 

Cost Savings:

Cost Savings

 

 

 

Initial Agreements

 

The Initial Agreement is the Agreement that establishes the legal, taxation and commercial framework of the Business Succession Plan.

It is different from a Variation Agreement, which documents any changes to the content of the Succession Plan.

 

Meetings and Advice

The standard Fee for a Complete Succession Agreement (or Business Insurance Trust Agreement) allows for up to two (2) hours’ consultation with the Adviser or Client with respect to the Client’s needs and the completion of the Questionnaire.

The consultation and advice may occur by physical meeting or teleconference.

This is sufficient to deal with the requirements of most Businesses.

If additional time is required, IGS will quote an alternative Fixed Fee.

Self-Ownership Business Succession Agreement

The standard Meeting and Advice Fee is additional to the cost of a Simple Succession (or Self-Ownership Business Succession) Agreement.

 

Alternative Business Succession Agreements

IGS offers a number of alternative Business Succession Agreements on a Fixed Fee basis:

IGS can use any one of the Agreements to document a Simple Succession Plan.

However, it uses either a Complete Succession Agreement (Single Policy-Owner) or a Complete Succession Agreement (Multiple Policy-Owner or Hybrid Agreement) to document a Complete Succession Plan.

 

Identity of Policy Owner and Trustee

Simple Succession (or Self-Ownership Business Succession) Agreement

If a Self-Ownership Business Succession Agreement is used, the Policy Owner will be the Life Insured personally.

A Trustee is not required for the Self-Ownership Business Succession Agreement.

Complete Succession (or Business Insurance Trust) Agreement

If a Complete Succession (or Business Insurance Trust) Agreement is used, the Policy Owner will hold the Policies as a Trustee.

The Policy Owner and Trustee is usually the Clients' Business itself or one of the entities within the Business Structure (preferably a Company).

IGS does not use an Institutional Trustee Company.

Click here to read about your choice of Trustee.

A Trustee is not required for the Simple Succession (or Self-Ownership Business Succession) Agreement.

 

Fixed Legal Fees

The Fixed Fee charged by IGS depends on the choice of Agreement.

Click here to see the current Fees for all Agreements and Services.

These Fees apply subject to the Legal Fee Policy.

 

 

Copyright: Ian Gray Solicitor

 

 

Adviser Tip

The standard Fee allows for up to two (2) hours’ consultation with the Adviser or Client with respect to the Client’s needs and the completion of the Questionnaire.

 

See more Adviser Tips

 

Current Marketing Schedule

Current Marketing Schedule

Ian Gray travels to most capital cities regularly throughout the year and is available for Meetings.

Please click here to see his availability in Brisbane, Sydney, Melbourne, Adelaide and Perth.

Please contact us to arrange an appointment or teleconference.