Passing on more than just assets
Transferring wealth isn’t just about who gets what. For business owners and families alike, it’s about preserving value, minimising tax, and making sure your financial legacy aligns with your intentions. Done right, wealth transfer can create clarity and security across generations. Done poorly, it can lead to confusion, disputes, and unnecessary costs.
Knight works closely with clients to navigate this complex space. As both financial accountants and strategic advisers, we combine technical knowledge with a deep understanding of what matters most to you and your family.
The role of your accountant in wealth transfer planning
While wealth transfer is often associated with legal documents and estate planning, your business services accountant plays a critical role in ensuring that the financial structures behind the scenes are built for long-term success.
We help clients answer important questions like:
- Should business assets be transferred during your lifetime or through your estate?
- How can you structure your affairs to minimise capital gains tax (CGT) or stamp duty?
- Are trusts or company structures appropriate for your goals?
- How do you ensure beneficiaries are protected – financially and legally?
Practical approaches to effective wealth transfer
When it comes to transferring wealth, there’s no one-size-fits-all strategy. The right approach depends on your structure, goals, and timeframe – but a few proven methods often form the foundation of an effective plan.
Planning for business succession
For business owners, passing control to the next generation or new stakeholders involves careful planning. Key considerations include:
- Separating operating entities from asset-holding entities to reduce risk.
- Reviewing ownership structures to support a smooth transition.
- Minimising the tax impact of transfer or sale of business interests.
- Creating clear documentation and governance plans for all parties involved.
Structuring personal wealth for flexibility and control
Outside of business assets, personal wealth also requires strategic planning. This might include:
- Using discretionary or testamentary trusts to protect assets and manage income distribution.
- Reviewing property and investment ownership for tax efficiency.
- Aligning estate plans with current financial structures to avoid unintended outcomes.
These approaches help preserve wealth, reduce the risk of disputes, and give you greater control over how your assets are passed on.
Why structure matters
The way your wealth is structured affects everything from tax to control to risk exposure. That’s why we always start with a full review of your current financial setup.
As your business accounting partner, Knight doesn’t just look at what you have today. We consider where you’re heading, who needs to be involved, and what outcomes you want – then build a plan that aligns with your goals.
We’re not here to sell cookie-cutter solutions. Every strategy is tailored, personal, and grounded in real-world outcomes.
Planning ahead makes all the difference
Effective wealth transfer planning is about more than ticking legal boxes. It’s about:
- Reducing risk and preserving value.
- Ensuring tax efficiency through the right timing and structures.
- Protecting beneficiaries with smart planning and oversight.
- Supporting continuity for family businesses.
The earlier you start, the more options you’ll have. Whether you’re years from retirement or thinking about an eventual handover, we’re here to help you plan with clarity and confidence.
Speak with experts who understand both sides
At Knight, our strength lies in the partnership between accounting and financial planning. We help Perth business owners and families put the right structures in place, backed by insight, experience, and personal support.
Contact us to find out how a Knight business accountant can support your wealth transfer planning.