Learning Objectives:
  • Define business succession
  • State the risks involved and solutions available to mitigate these risks
  • Identify prospecting ideas through various risks identified in Business Succession
  • Sell insurance to mitigate risks in Business Succession including arranging for Buy-Sell agreement
Course Outline:
  • Introduction to business succession
  • Common structures of business setup in Singapore
  • Common risks faced by businesses in succession planning and the common practices by businesses and companies in Singapore
  • Steps in business succession planning for different business setup in Singapore
  • Valuation of business for business succession
  • Concept of minority discount
  • Policy arrangement
  • Income tax implication for the different ways of policy arrangement and financing
  • Introduction to Buy-Sell agreement and the benefits of planning for succession through Buy-Sell agreement
  • Sample of Buy-Sell agreement
  • Using insurance as funding for Buy-Sell agreement
  • Business Succession Planning Fact Finder

LIA CPD Hour: 6 hours (50% Knowledge, 50% Skills)