When you started out, someone helped you choose a structure: maybe a sole trader setup, a company, a family trust, or a self-managed super fund. It fit at the time. But structures are easy to set and forget, and the world around them keeps moving.
Why structures drift out of date
A structure that was right five or ten years ago can quietly stop being right because:
- Your business has grown, changed activity, or taken on staff or partners.
- Your family situation has changed: a marriage, separation, blended family, or new children.
- Your assets have grown and asset protection now matters more than it did.
- The rules around trusts, companies and super have changed since you set up.
Structure and succession points to review
- Old trust deeds that don’t reflect how the trust is actually being used.
- SMSF succession arrangements that may not align with your broader estate planning.
- Company succession questions, including what happens if a director cannot act.
- Family changes that may affect how a structure should be reviewed.
When to review
A good rule of thumb: review your structure if it’s been more than a few years, or any time your business or family situation changes meaningfully. It’s far cheaper and calmer to fix a structure in a planned review than in the middle of a crisis.
The best time to look at your structure is when nothing is wrong. That’s when you have the most options.
What a review covers
We review the tax, accounting and compliance aspects of your current structure. Where a matter involves Wills, powers of attorney, succession, asset protection or other legal advice, we will recommend that you obtain advice from an appropriately qualified solicitor and, with your permission, coordinate with them.