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Glossary of terms used on this site

There are 73 entries in this glossary.
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Term Definition
Accumulated profits

Profits that have not been distributed to shareholders as dividends but which are retained and used in the company's business.


Where one business takes over another and is then the owner of that business. The business that has been taken over now ceases to exist.


Also known as the Guardian or the Principal. The appointor of a trust has the power to remove and reappoint the trustee. This is the key role in a trust with implications for control of assets in longer and immediate time frames.

Asset/Litigation Protection

(BSR analysis element) Over time the placement and use of business structures are used more for taxation purposes, and it is necessary to assess the risk of any paper trail for litigation from trading entities to personal & family assets. Asset protection is a fundamental plank of succession planning.

This may require changing or altering the ownership and use of existing entities and/or the setting up of new ones. These actions can be stamp duty and CGT sensitive and consultation with business accountants is necessary. In some cases a tax opinion may be called for.


Items that are owned by the business, they may include such items as plant and equipment, motor vehicles, intellectual property or customer listings. Family assets may include share portfolios, investment property or collectables including art.

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Bruce says

We were looking for a method to ensure two of our senior partners could afford to retire in 4 years, and that we could afford to purchase their shares. Jim gave us much more than we expected and spent a great deal of time understanding our issues. His report is one of the most important in our business and will be often referred to in future years.