Tim Eastwood, Client Adviser - Rothschild & Co, Wealth Management
With such a full agenda when setting up, running and concentrating on the growth of their own business, entrepreneurs often find they are too busy to focus on their family’s finances. Personal wealth considerations frequently take a back seat as something that can be sorted out when there is more time post-sale.
During the entrepreneurial journey, there are key moments at which the right decisive action can make a dramatic difference before and during, as well as after a sale. This is particularly true when it comes to decisions about dividing business and personal assets, tax planning and charitable donations which, if pushed out until after the sale period is complete, can have far reaching financial implications.
It is natural that business and personal finances become intertwined when building a business, but ideally these need to be properly separated well in advance of an...