Your business’ financial wellbeing checklist

Business Estate Planning

Do you need business estate planning advice? You will if you answer NO to any of these questions:

Could your business afford to pay out an owner or their estate for their share of the business if that owner was forced to leave the business due to illness, injury or death?

Have you and your partners agreed a fair valuation for your business… and what each partner’s share would be if they were to leave the business?

Has your business’ ownership arrangements, revenue, equity and/or debt positions changed significantly since you last reviewed your business estate plan?


General Insurance

Do you need advice on general insurance solutions? You will if you answer NO to any of these questions:

Could your business afford to cover the costs should one or more risks eventuate, such as damage to property, theft, personal injury or a liability case against you, or not being open for business e.g. due to a flood or fire?

Have your business assets changed significantly since you last reviewed your general insurances?

Have all assets which might be subject to a personal property security charge been insured sufficiently?

Have you reviewed your general insurances in the past two years?


Finance

Do you need advice on your business loans? You will if you answer NO to any of these questions:

Are you confident your existing loans have highly competitive interest rates and fees?

If you need to arrange new finance, are you confident your existing lender will look after you?

Have you reviewed your existing business loans in the past two years?

Has your existing lender/s been responsive to your queries and needs?


If you need advice on any of these matters, please talk with your financial adviser.

 

Disclaimer: This article is not legal advice and should not be relied on as such. Any advice in this document is general advice only and does not take into account the objectives, financial situation or needs of any particular person. You should obtain financial advice relevant to your circumstances before making investment decisions. Where a particular financial product is mentioned you should consider the Product Disclosure Statement before making any decisions in relation to the product. Whilst every care has been taken in the preparation of this information, Australian Unity Personal Financial Services Ltd does not guarantee the accuracy or completeness of the information. Australian Unity Personal Financial Services Ltd does not guarantee any particular outcome or future performance. Australian Unity Personal Financial Services Ltd is a registered tax (financial) adviser. Any views expressed are those of the author and do not represent the views of Australian Unity Personal Financial Services Ltd. If you intend to rely on any tax advice in this document you should seek advice from a tax professional. Australian Unity Personal Financial Services Ltd ABN 26 098 725 145, AFSL & Australian Credit Licence No. 234459, 114 Albert Road, South Melbourne, VIC 3205. This document produced in January 2016. © Copyright 2016