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Glossary of terms used on this site

There are 73 entries in this glossary.
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Term Definition

Earnings before Interest, Taxes, Depreciation and Amortisation of the company

Estate Planning

(BSR Analysis Element) to determine family needs and wishes. To include progeny from earlier relationships and to manage family expectations when developing the plans. To examine the impact of current Wills and enduring powers of attorney. To ensure that the succession arrangements built into companies and Trusts are in line with family intentions and to alter same when needed. To plan for asset protection for disabled and disadvantaged beneficiaries through structure control and testamentary Trusts and to consider quarantining family wealth from divorce settlements.


An executor is a person (or sometimes more than one person) named in a Will to carry out the wishes of the Will-maker after their death. Often solicitors or specialist trustee companies are named as executors. The duties of the executor include: * burying the body * applying for a grant of probate * calling in all of the assets * paying out all debts * Distributing of the estate according to the wishes of the Will-maker.

Exit Strategy

(Wikipedia) - a means of escaping one's current situation, typically an unfavourable situation. An organisation or individual without an exit strategy may be in a quagmire. At worst, an exit strategy will save face; at best, an exit strategy will peg a withdrawal to the achievement of an objective worth more than the cost of continued involvement.

(BSR Analysis Element)- The BizSuccession Solutions scope of Services for this element is as follows. The need for exit strategy rules constitute a principal reason for business succession planning. Immediate exit strategy planning is about the setting up of clear and certain rules to ensure the viability of the business when a owner wishes to be paid out and to leave the enterprise without adequate warning. Of equal peace of mind the procedures make possible the orderly removal of a owner with litigation reduced to a threat only. To consider management of capital shifts, banking and customer comfort, staff understanding and maintenance of morale, supplier confidence and brand protection throughout this process.

Exit Strategy planning

Process of planning and controlling an immediate exit of a proprietor so that continuing owners are not disadvantaged and the retiring proprietor has capital protected. Based on a unique buy sell concept the exit strategies cover all forms of partnership splitting. This plan is then incorporated into the business succession report.

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Sean says

We are in business with my parents and brother. Some land had been transferred to my brother and I and we asked Jim to prepare a immediate exit strategy in case one of us had or wanted to withdraw. We sought bank finance to improve the land. Jim was able to do that plus discover a error in how the land was transferred that the bank had missed. Since then my brother has left the state and he is being paid out exactly as we set up; no argument.