Evanna Phoon wrote the below article and she is a Senior Franchisee of Rockwills. She can be contacted at email@example.com
Online Registration for Rockwills Sdn Bhd and Partnership Buy Sell Agreement and Family Business Trust
SEMINAR FEE on this course
Rockwills Member : RM250/pax
Rockwills Member (Refresher) + 3G : RM80/pax
Non-Rockwills Member : RM450/pax
Non-Rockwills Member (Group of 3 persons): RM400/pax
Non-Rockwills Member (Group of 6 persons): RM350/pax
Kindly transfer the payment to the following Bank Account payable to
Rockwills Business Solutions Sdn. Bhd.
Bank Account Number:
CIMB Bank : 1428 0004 2260 55
RHB Bank : 2121 9800 0198 20
Email the bank in slip to firstname.lastname@example.org
WHO SHOULD ATTEND
- Company Secretaries
- Accountants and Tax Agents
- Financial Planner and Advisors
- Insurance Consultants
- Unit Trust Consultants
- Bankers and Lawyers
- Professional Estate Planners
- Financial Intermediaries
*Seminar fee is inclusive of seminar materials, certificate and tea breaks.
15 CPD Hours Accredited by Malaysian Financial Planning Council
Course Introduction: This 2 days course will cover on two topics: Rockwills Buy Sell Agreement (Business Value Protection Trust) and Family Business Trust
Rockwills Buy Sell Agreement Business Value Protection Trust. Business value protection or business succession involves planning for the smooth transfer and continuation by the co-owners due to retirement, death, illness or disability. This seminar addresses the key questions for business owners such as:
- When a business owner decides to retire or suffers a life threatening illness or dies, is there a proper exit strategy put in place?
- Is the exit strategy stated in writing to ensure smooth transfer and continuation of the business? Has it been structured properly?
- In the event of death or disability, can the heirs of the business owner manage the business with the co-owners? If no, will the heirs be compensated in any way to ensure adequate income for them?
- Will the co-owners have the available funds to purchase the business owner’s interest or shares when the time comes to do so?
Rockwills Family Business Trust
Family Business Trust creates a structure for the continuation of the family business with or without the involvement of the family members. The existence of family participation in the business directly or indirectly, can strengthen the company because family members are often loyal and dedicated to the family enterprise. However, family participation as managers of a business can present unique problems because the interests of a family member may not be aligned with the interest of the business.
Through the application of various strategies, Rockwills Family Business Trust is designed to benefit the family members to receive the dividend income from the trustee and the profits generated by the business to ensure the continuity and preservation of the business within the family. More mportantly, the strategies used are to ensure that the business is managed by a competent person overseen by the Board of Directors.
This seminar will provide an in depth understanding on the estate planning options and tools that are available to preserve family business and the relevant information required to structure a proper 3G Family Biz Trust.
1.Types of business suitable for Business Value Protection
- Partnership, private limited company and public listed company
2.The Business Value Protection concept
- Protecting the business value
- Problems involved without the protection
- Outline of the components for Business Value Protection
- Funding: insurance and alternatives for Muslims and non-Muslims
3.Components of Business Value Protection
- Buy-Sell or Buyout agreement and issues for consideration
- Option agreement – when it should be used and issues for consideration
- Power of attorney – types and usages
- BVPT – structure and important elements for Muslims and non-Muslims
4.Critical analysis of some existing plans
- Without power of attorney and trust
- Funding by Key-man insurance
5.Advantages of Business Value Protection Trust package
6.Estate Planning Options to a Family Business
7.Objectives of Setting up a 3G Family Trust
8.Exploring Available Tools and Technicalities
- Testamentary trust, declaration of trust and living trust
9.Type of Beneficial Interest Suitable
- Fixed and discretionary
10.Terms of Trust
- Parties involved, protective committee, trust asset, trust period, qualification of and disqualification of beneficiaries and meetings.
11.Instruction taking, documents required and possible M&A amendments
This 2-days HIGH impact seminar aims to help you to:
- Identify opportunities for estate planning, especially for business value protection.
- Know how to ask relevant and important questions to determine the need for business value protection.
- Learn how to answer clients’ questions on the structure of business value protection and ancillary matters such as the valuation, funding, agreement, tax implications, power of attorney and usage of trust
- Fully utilize insurance planning as the funding option to help clients, hence get bigger insurance cases.
- Understand how certain existing funding & structures without the components of business value protection can cause material losses to the clients & their heirs.
- For family business, the available estate planning tools to ensure that the business is kept within the family and managed by qualified heirs or appointed professionals
- The relevant questions to ask to structure a proper Rockwills Family Business Trust.
En. Azhar Iskandar Hew is the Senior General Manager of Rockwills Trustee Berhad and holds the Bachelor of Laws (Honours) degree from the University of London. He is also a Director of Rockwills Advisory Services Sdn Bhd. He has more than 16 years experience in the estate planning industry as a will & trust specialist, trainer and conference speaker. Over the years he has trained more than 6,000 people primarily from leading financial institutions and life insurance companies as well as inancial planners in Malaysia, Hong Kong and Singapore. He is approved by Securities Industry Development Centre (SIDC) as a facilitator to conduct estate planning training and is an Estate Planning Trainer for Certified Financial Planning (CFP) as well as a Certified Registered Financial Planner (RFP) Trainer by the Malaysian Financial Planning Council (MFPC) for the Estate Planning module of the Registered Financial Planner course. His current scope of work includes advising on legal aspects, compliance and advisory matters regarding Estate Planning, Private Trust and Corporate Trust services. He contributes regularly to Smart Investor and Malaysian Business on the areas of Estate Planning and Private Trust.