Setting Up Your Business for SuccessProtect & Preserve

YANN HARRISON

December 2019

Recap, 2 D’s and 3 C’s please….

The 5 D’s

1. Death

2. Disability

3. Divorce

4. Disagreement

5. Distress

The 4 C’s

1. Human Capital

2. Customer Capital

3. Structural Capital

4. Social Capital

DD

CC

C

Them, It, Me & mine ….

Me & mine, You & yours

It

Them

Human Capital

Death & Disability

Human, Customer

& Structural

Capital

Death & Disability

Human &

Structural Capital

Death & Disability

Them

Participatory Incentives Risk Benefits

Retirement Provision

Employer

Tax deductible

No PRSI

Employee

No BIK

No medical

It … Keyperson Cover

Tax deductible (?)

Taxable receipts (?)

Medical

Valuation (?)

Protects

Liabilities

Protects

Capital

Protects

against

losses

Protects

Profits

Ensures

Business

Continuity

Keyperson

Insurance

How it Works

Premiums

Lump sum death benefit to offset loss of keyperson

Insurable interest

Key Person

Business Insurer

Me and Mine, You and Yours

Control Dilution…

Too Many Cooks…

How it works

Corporate

Co-director

Insurance

Life cover

Lump sum –

death / illness

Share buyback

Control retained

Dependents cared for

Retirement Provision…

Me

Now, is there

something I was

supposed to do

today?

Taxes

Preserving Value…Call to Action

> Large amounts, regularly

> Defined exit

> Small amounts, regularly

> Revenue approved gift tax shelter

> Revenue approved inheritance tax shelter

> Succession structures – company, partnership, trust

> Will and Enduring Power of Attorney

@RBK Chartered Accountants

@RBKCA

@RBK Chartered Accountants

www.rbk.ie

Thank You Yann Harrison

Director

T: (090) 6480600

E: yharrison@rbk.ie