Speaker Profile: Business Succession Planning – Buy/Sell Investor Agreements

In the latest speaker profile in our series, we sit down with Patrick Ellwood, ATI from McCullough Robertson Lawyers who is presenting the Business Succession Planning – Buy/Sell Investor Agreements session at the upcoming 29th National Convention in Hobart.

Tell us about yourself

I am a Senior Associate at McCullough Robertson Lawyers, where I have worked since 2006. I specialise in personal and business succession and work with accountants, financial planners and other advisers to assist clients across a wide range of industries.

How long have you been affiliated with The Tax Institute?

I undertook The Tax Institute’s Certificate in Foundation Tax course (now CTA1 Foundations) in 2009 and have been involved ever since.

What does National Convention mean to you, and more broadly, to the tax industry?

It is an opportunity to get up to speed on a range of areas which have changed over the last 12 months and to get a sense of where these changes are likely to lead over the next few years. It is also a chance to catch up with colleagues from around the country who I wouldn't otherwise get a chance to meet.

What is the topic that you are presenting at the 29th National Convention?

I am presenting on business succession planning with a particular focus on insurance funded buy sell deeds. I will be talking about the tax aspects of business succession arrangements but will also address the commercial issues that commonly arise when these agreements are being negotiated by business owners.

What can attendees expect to learn from your session?

Attendees will learn some practical tips for assisting their clients with the negotiation of business succession agreements, including how to structure the ownership of insurance policies and how to manage the business valuation process on the exit of an owner.

What new or hot topics will you cover?

I will outline strategies for addressing insurance shortfalls and dealing with uninsurable owners, which are common traps when trying to put in place a comprehensive succession plan for a business.

How will attending your session help delegates help their clients?

The session will give delegates the tool kit they need to explore business succession issues with their clients. In addition, with many delegates being business owners themselves, it will hopefully give them some practical tips that may be useful for them on a personal level!

Which other sessions at the conference are you most interested in attending?

I am always interested in sessions around the taxation of trusts and Division 7A, given the amount of turmoil in this area over the last few years.

What do you like to do when you’re not knee-deep in tax?

I’m usually either travelling or if I've just returned from a trip, researching where to go next!

29th National Convention 2014
You’re invited to join us in Hobart for the 29th National Convention 26-28 March 2014. The Tax Institute’s National Convention is widely recognised as the essential annual event for tax professionals. But hurry! Advanced pricing ends this Friday!

Find out more about the conference and register now.

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