AWA
Scholarship
2016
• Sale contract for business or shares in the
company.
• Deeds of assignment of leases, copyright/
leased equipment.
• Charges over chattels and releases.
• Restraints of competition.
Leaving the business in your will
This can be an easy option to let somebody
else worry about it. Often the value of a
business is in its owner or management. If
you die, is there someone who can carry
on the business? If you leave the business
to family members, will they be able to
continue operating it at least until it can
be sold? If you are a part owner, will your
other owners have the money to buy your
share from the estate? Is there cross life
insurance for this? Is there an agreed value
or method of valuation to determine the
value of the business if you die or will your
family just have to accept what the other
owners want pay – if anything? When you
die, your executor stands in your shoes as
the owner of your business. Will this person
have the knowledge and experience to carry
on your business? Consider whether you
should appoint a trustee for your business
who has the skills and experience to carry on
the business so it can be sold. Alternatively,
consider directing your executor to take
advice from a professional or other advisor
about the business.
I have only touched lightly on this subject.
The key point you should take away is that
a business succession plan is not something
you start when you are thinking of retiring. It
is never too soon to start.
PURPOSE
The AWA Scholarship
Program was
established to
provide the families
THE AWARD
of employees of
The Scholarship is
Australian Window
a one year, nonAssociation members
renewable scholarship with an opportunity
of $2,500 towards
to obtain financial aid
an engineering,
for higher education
technical or design
and to encourage the
field of study or
growth of the building
apprenticeship.
products industry.
The Scholarship
This scholarship was
may be used at
also established to
indirectly support
any accredited
educational
college, university or
vocational technical
institutions
institution in Australia. nationwide.
ELIGIBILITY
To be eligible,
students must intend
to commence tertiary
or vocational study at
any level of university,
accredited non-profit
college or vocational
technical institution in
2016. Students must
be dependent children
of employees of AWA
member companies in
good standing.
For more information and to download an application form, visit the
Members Only section of the AWA website:
www.awa.org.au/members.
Applications must be submitted by January 29, 2016.
The scholarship will be awarded by February 25, 2016.
Summer 2015 www.awa.org.au 21