Business succession planning is often overlooked in a competitive marketplace, yet it’s crucial for any enterprise aiming to endure beyond the current generation. A well-thought-out plan acts as the cornerstone of estate planning, helping to protect personal and professional interests, reduce tax liabilities through effective tax planning, and potentially leverage a trust fund to ensure long-term family security. For high-net-worth individuals and serious entrepreneurs, ignoring succession planning can jeopardise both personal wealth and the longevity of the business.