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MEDICAL PRACTICES · BRINGING IN OR BUYING OUT A PARTNER

One partner leaving. One buying in.
The price, the tax, the loan and the lease
all have to line up.

We get your accountant, lawyer, valuer and bank working to one plan, so the change happens in the right order and you can keep seeing patients.

Arrange a walkthrough How it works

We coordinate. We don't advise.

Your accountant, lawyer and bank still give the advice.

Your professionals stay.

We work with the people you already have.

No commissions.

Our fee comes from you, never from a product or a referral.

WHO'S USUALLY INVOLVED

Seven people at the table.
One order.

ACCOUNTANT

The tax, the structure and the numbers

VALUER

What the share is worth

LAWYER

The partnership agreement and the sale contract

BANK

The buyer's loan and any guarantees

LANDLORD

The lease and whose names are on it

INSURER

Cover between partners

PRACTICE MANAGER

Staff, patients and systems through the change

YOU

Keeping it all in order, between patients

Each one is good at their part. Nobody is asked to keep the order. Until now, that's been you.

WHERE IT GOES WRONG

Three things that catch
partners out.

Each one is fixable.
Just not after you've signed.

  • The price agreed before the tax is worked out

    What the price means for each of you changes once the tax is done. Agree it first, and the deal can need redrafting.

  • The loan applied for on an estimate

    The bank lends on a proper valuation. An estimate can mean a second application and a delay.

  • The leaving partner still on the guarantee

    Leaving the practice doesn't take your name off the lease or the loan. The landlord and bank have to agree to release it.

THE RIGHT ORDERMOST PARTNER CHANGES
  1. 1

    Value the share

    Valuer · Accountant
  2. 2

    Agree the price, with the tax worked out

    Accountant · Lawyer
    YOU DECIDE
  3. 3

    Approve the loan on the valuation

    Bank
  4. 4

    Release the guarantee at settlement

    Lawyer · Landlord · Bank

YOUR 12 WEEKS

Twelve weeks to get
organised and moving.

The twelve weeks get everything ready.
Settlement may land after that.

YOU ARE HERE
Starts · Week 1Structure · Week 4Connect · Week 10Maintain · Week 12Stay on · If you want
DoneThis weekUnderwayTo come
WEEKS 1 TO 4 · STRUCTURE

Work out who's involved and the order.

  • Walkthrough heldDONE · Your situation, in your words
  • Agreement and lease readTHIS WEEK · What they say about leaving and guarantees
  • The order agreed in writingTO COME · Valuation and tax before price
CHECK-INWeek 4NEXT
WEEKS 5 TO 10 · CONNECT

Get everyone working to the same plan.

  • Valuation and tax brought togetherTO COME
  • Loan applied for on the real numberTO COME
  • Terms agreed before the lawyer draftsTO COME
CHECK-INWeek 10
WEEKS 11 TO 12 · MAINTAIN

Line up settlement and agree what's next.

  • Guarantee release agreed for settlementTO COME
  • Contracts ready to signTO COME
  • Week 12 reviewTO COME
CHECK-INWeek 12
AFTER WEEK 12 · IF YOU WANT

Stay on with us.

  • Through to settlement, if it runs longerTO COME
  • A one-page report every monthTO COME
  • Changes picked up earlyTO COME
REVIEWDecided together at week 12

WEEK 12 REVIEW

One fixed fee, agreed before we start. At week 12 you decide: carry it on yourselves, with your accountant, or stay on with us. Whichever you choose, the plan and records are yours to keep.

See a sample weekly update

WHAT STAYS WITH YOUR PEOPLE

Your people do the work. We keep the order.

We don't value the practice, give advice, write the contracts, referee disagreements or make the decisions.

We act for the practice, with every owner agreeing. Each of you can keep your own lawyer.

  • What the share is worthYour valuer
  • The tax and the structureYour accountant
  • The agreementsYour lawyer
  • The loanYour bank
  • Where you disagreeYou, with your own lawyers
  • Every decisionYou

BEYOND THE PRACTICE

What it means at home.

A partner change often reaches home. We'll point out what it touches, so your adviser, accountant and lawyer can sort it at the right time.

Personal & Family

PARTNER CHANGE

Partner leaving or buying in
  • The guarantee secured on the houseLawyer · Bank
  • The family trust that holds your shareAccountant
  • Super and when you retireAdviser
  • Insurance between partnersAdviser
  • Your willLawyer

We flag it. You decide when.

Not sure if you need us?

A short walkthrough will tell you.

You'll leave with a clear view of what needs to happen, and in what order. If your accountant can handle it, we'll say so.

Arrange a walkthrough

Clients across Australia. Most walkthroughs are by video.

WHAT HAPPENS IN A WALKTHROUGH

  1. 01

    We listen

    Your situation, in your words, and who's already involved.

  2. 02

    We map it

    What needs to happen, who does it, and in what order.

  3. 03

    You decide

    Whether to go further with us, or carry it on yourself.

FOR ACCOUNTANTS, ADVISERS AND BANKERS

You give the advice.
We run the sequence.

We don't replace you. We make sure your work connects to everything else happening around your client. Your client stays your client.

How we work with professionals