STEM Launching to Success The 3 C’s: Community, College, and Corporate Allan Hancock College
Setting Up Your Business for Success - Amazon … › 1575634668...Business for Success Protect &...
Transcript of Setting Up Your Business for Success - Amazon … › 1575634668...Business for Success Protect &...
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