Many business owners build value in the business, but leave the legal and wealth structure on autopilot. That is usually fine until something changes, a dispute, illness, a breakup, a partner exit, or a tax issue you did not see coming.
In this video, Michael Scherini speaks with Thaveesh Palapathwala about proactive planning, and why joining up the legal side and the wealth side can reduce risk over time.
A common gap is that the business structure does not match the real world plan. People may have the “right” entity on paper, but no clear succession pathway, no clean ownership documentation, or no strategy for what happens if someone cannot work.
This is where simple planning can matter. Clear ownership records. Updated agreements. Proper documentation of loans and contributions. A realistic succession plan that covers both the business and the personal side.
For some people, the focus is asset protection and risk management. For others, it is continuity and decision making if something goes wrong. In many cases, it is also about estate planning and making sure intentions are reflected in documents, not just assumptions.
Planning is not one document done once. It usually needs review as the business grows, family circumstances change, or new assets are acquired.
How Scherini Lawyers can help
Scherini Lawyers advises Melbourne clients on business succession planning, ownership structures, dispute prevention, and estate related risk. Call 03 9961 3149 or email info@scherinilawyers.com.au.
