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In this episode, Mena and Stuart delve into the critical considerations for Australian business owners when creating a will. They unpack how your business structure, whether sole trader, partnership, company, or trust, determines what can be passed on and how. The duo explores the importance of aligning your business succession plan with your personal estate plan, from identifying future leadership to leveraging buy-sell agreements and regular valuations. They highlight the necessity of mapping out control over trusts and companies and planning for incapacity through tools like Enduring Powers of Attorney and alternate directors.

Listeners will gain practical insights into using testamentary trusts for tax efficiency, understanding CGT implications, and ensuring estate liquidity through insurance or succession agreements. Mena and Stuart also address the sensitive topic of family dynamics, offering tips to prevent conflict when business assets aren’t evenly distributed. Finally, they underscore the importance of choosing a capable executor and regularly reviewing your estate plan to keep it relevant.

Whether you're a solo entrepreneur or managing a complex business entity, this episode is packed with essential guidance to protect your legacy and ensure smooth transitions.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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Using a corporate beneficiary, commonly called a bucket company, is a smart move for many trust structures, particularly when tax efficiency and asset protection are key goals. But as Stuart and Mena explain in this episode, setting one up requires more than just ticking a box.

They dive into the purpose behind corporate beneficiaries, including how they help defer tax, protect assets, and support reinvestment strategies. You'll learn about essential structuring steps, such as company setup, trust deed alignment, and family trust election considerations.

A big focus is the compliance risks under Division 7A, which often catch business owners off guard. The team breaks down what unpaid distributions mean, why a formal loan agreement is essential, and how the latest ATO guidance has changed the landscape.

They also explore dividend planning, franking credit strategies, succession, and long-term control, plus common traps to avoid.

If you're considering a corporate beneficiary as part of your trust strategy, this episode gives you the full picture so you can make informed, forward-looking decisions.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

Send us a text

This week, the mic flips! Mena takes the lead and interviews Stuart about the biggest lessons he’s learned in nearly 25 years of running a business. From the importance of focusing on internal resilience rather than external noise, to the three critical pillars—people, systems, and product—Stuart shares the wins, mistakes, and mindset shifts that have shaped his entrepreneurial journey.

They discuss why knowing your numbers isn't optional, how culture can make or break a team, and how early mistakes (like obsessing over short-term results) led to long-term insights. Whether you're just starting out or deep into your business journey, this episode is a goldmine of real-world wisdom from the frontlines.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.