Personal Contingency Plan Please do not hesitate to contact us if you have any questions about the Personal Contingency Plan or if run into any difficulties. Ph: 07 4772 2333. First, please review our Terms of Use Review Terms of Use Personal Contingency Plan Step 1 of 8 12% Please complete this questionnaire, to provide us with the information we need to prepare your Personal Contingency Plan and advise you. You can move backwards and forwards through the form pages at any time. If you change your answers, you may find that the questions change, as different questions will display depending your answers to earlier questions. You can save your answers and continue the form later, by clicking on the Save and Continue Later link at the bottom of each page of the form. You will be asked to provide an email address. We will send you an email with a link to the form, with your answers saved. When you are sure that you are happy with all of your answers, click on the “submit” link at the end of the form. We will then contact you to make a time to finalise your Personal Contingency Plan. Terms of UsePlease confirm that you have reviewed and accept the Conrad Law Terms of Use I have reviewed and accept the Conrad Law Terms of Use No, I have not reviewed and accepted the Conrad Law Terms of Use You must accept our Terms of Use to be able to proceed Please complete click on the Terms of Use button on the top of the page and review our Terms & Conditions, then confirm acceptance in the previous question. Name First Last Business NameEnter the trading name of your business ABN Your Email Enter Email Confirm Email Phone - Business Phone - mobile Address Street Address Address Line 2 Subsurb/Town State Post Code RelationshipsAre you married or living in a long term relationship? I am married I am not married but live with someone in a long term relationship No, I am not living in a long term relationship Spouse-partner nameWhat is the name of your spouse or partner? Your roleWhat is your role in the business? Legal StructureWhat legal structure does your business operate through? Sole trader (just you) Partnership (you and someone else) Company You as trustee of a trust Trust with a company as trustee Other Not sure How many owners?How many owners are there in the business? Where a family company or trust holds an interest on behalf of a family, count them as 1 owner.12345 or moreCompany NameWhat is the name of the company Trust Name What is the name of the trust that operates the business?Describe structurePlease describe the operating structure of your business IndustryPlease describe the industry you business operates in (eg:- "Retail") Type of BusinessIn a few words, please describe what you business does (eg. "We sell widgets") CustomersWho are your main customers? Select all major customer groups. Consumers Small Business Large Business Government Licensed?Do you need to hold one or more licenses specific to the business, to operate this business? Yes No Sort of Not sure LicenseDescribe the license you hold and the issuing authority License HolderWho holds the license/s? Select all that apply. You Another owner An employee The business A contractor Other Other license holderPlease explain who holds the license/s EmployeesOther than business owners, how many people does the business employ? 0 1 2-5 6-10 11-20 21-50 51 plus EmployeesOther than business owners, how many people does the business employ? 0 1 2-5 6-10 11-20 21-50 51+ WorkersPlease identify who is involved in producing the products or services provided by your business Owners Employees Contractors Other BookkeeperWho does the bookkeeping for the business? You Your spouse Another owner A financial controller who is an employee A bookkeeper who is an employee A consutant financial controller or bookkeeper Your accounting firm Other Other BookkeepingPlease describe who does your bookkeeping Accounting firmWhich accounting firm does your tax accounting? AccountantWho at that firm is your main point of contact Accountant ServicesWhat services does your accounting firm provide to your business? Select all that apply. Prepare tax returns Prepare financial statements Prepare BAS returns Bookkeeping advice Bookkeeping services Self managed superannuation audit Audit - other Business advice Financial planning Insurance, lending or other services Other Other accounting servicesPlease describe the other accounting services your accountant provides AgeWhat is your age? Under 21 22 - 30 31 - 40 41 - 50 51 - 60 61 - 70 71 plus Personal insurancesDo you have any personal insurances such as income protection or life insurance? Yes No Not sure Income Protection InsuranceDo you have income protection insurance to provide an income if you cannot work Yes No Don't know Life InsuranceDo you have life insurance Yes No Don't know Life Policy BeneficiaryWho is the beneficiary who receives the insurance if you die Your spouse Your estate Your super fund The business Other business owners Paid under a buy-sell agreement Other Not sure Life Beneficiary otherWho is paid your life insurance if you die? TPD InsuranceDo you have TPD (total permanent disability) insurance? Yes No Don't know TPD Policy BeneficiaryWho receives the TPD payment if you are permanently disabled? You Your spouse Your family Your super fund The business Other business owners Paid under a buy-sell agreement Other Not sure TPD Beneficiary otherWho is paid your TPD insurance if you are diabled? Trauma InsuranceDo you have Trauma insurance? Yes No Don't know Trauma Beneficiary otherWho is paid your trauma insurance if you suffer a trauma event? Trauma Policy PaymentWho receives the TPD payment if you suffer a trauma event? You Your spouse Your family The business Other business owners Paid under a buy-sell agreement Other Not sure Business Expenses InsuranceDo you have Business Expenses insurance that pays expenses of the business if you are incapacitated? Yes No Don't know Business Expenses Policy PaymentWho receives the TPD payment if you are permanently disabled? You Your spouse Your family The business Other business owners Paid under a buy-sell agreement Other Not sure Regular financial commitmentsWhat major financial commitments (apart from drawings for living expenses) do you have that must be paid monthly at least, that are serviced from your business revenue? Select all that apply. Wages Rent Business property mortgage Equipment leases or finance Other bank finance Insurance premium finance Electricity Home loan Other personal finance Other WagesPlease provide an estimate of your monthly wages RentPlease provide an estimate of your monthly rent (including GST) Business property mortgagePlease provide an estimate of your monthly business property mortgage payments Equipment lease or financePlease provide an estimate of your monthly Equipment lease or finance payments Other bank financePlease provide an estimate of your monthly Other bank finance payments Insurance premium financePlease provide an estimate of your monthly Insurance premium finance payments ElectricityPlease provide an estimate of your monthly electricity costs (including GST) Home loanPlease provide an estimate of your monthly home loan payments Other personal financePlease provide an estimate of your monthly other personal finance payments Other commitmentPlease describe the other financial commitment you are referring to Other financial commitmentsPlease provide an estimate of the other financial commitments you are referring to (including GST if applicable) Contingency PlanDo you currently have a written contingency plan that would apply should you die or be incapacitated for a period? Yes No Contingency Plan LocationWhere is your contingency plan document located? Contingency Plan ImplementerFor the plan you have in place at the moment, who is expected to implement that plan? Enduring Power of AttorneyHave you appointed an enduring attorney to act for you if you are incapacitated? Yes No Don't know Enduring AttorneyWho is your enduring attorney Attorney RelationshipWhat is your relationship with the person you have appointed as your Enduring Attorney? Spouse or life partner Parent Sibling Trusted friend Trusted advisor Other Alternate DirectorHave you appointed an alternate director who can act in your place as company director if you become incapacitated? (An enduring attorney cannot act on your behalf as a company director.) Yes No I don't know Identifying an implementation personIf you were in an accident and could not give directions, is there someone who could pick up your contingency plan and follow that plan to arrange cover for you for the first week? Yes - it is clear who that would be Yes - but I'm not sure if they could do it No - I can't think of anyone who could do it Fallback personCould any of the following assist, assuming they were paid to do so - possibly from funds received from a trauma insurance My bookkeeper My accountant A locum, consultant or contractor Someone recently retired from the industry I can think of no realistic fallback option Where would we find them?Where would we find someone like that? Please describe the best place to start looking. Implementation personWhat is the name of the person who would implement your contingency plan? Implementation persons positionWhat role do they have in the business or what relationship do they have with you? Alternate ImplementerIf that person were not able to implement your contingency plan for some reason, who would be the best person to act in their place? Alternate implementer position DissappearanceIf you were to fail to turn up for work without explanation, for how many trading days should the person charged with implementing your contingency plan, try to contact you before taking the first step in implementing your contingency plan? One trading day Two trading days Three trading days Four trading days One trading week Other Business as usual?MIght your business (or your customers) suffer significant damage if you were unexpectedly out of action for one week, unless you have someone to fill in for you to undertake any work that is urgently required ? Yes No Not sure Short term planWhich of the following steps would the person implementing your short term contingency plan have to undertake as a priority Contact customers you are currently working for to say you will be out of action for a short while Also tell them what has happened? Reallocate your work among employees Engage a contractor to do some of the work Pass some of the work to another business to complete Other - described below Short term plan detailsWhat other things would the person implementing your contingency plan have to put in place to "hold the fort" whilst you are out of action for a week?Short term plan notesIs there anything else you would like to add about what should happen in your business if you were unexpectedly out of action for a week?Medium term coverWho could do your job if you were out of action for a month or more? Medium term cover positionWhat role do they have in the business or what relationship do they have with you? BookkeepingWho would look after the bookkeeping for the business if you were out of action for a month or more? My spouse looks after the bookkeeping I have a bookkeeper who could keep things running I have someone who helps me with the bookkeeping who could continue with the help of my accountant I would need my accountant to help me arrange someone to do the bookkeeping other BookkeeperWhat is the name of the person who would be doing your bookkeeping? Financial overseerWould you like someone (for example your accountant) to come in to oversee the bookkeeping to ensure everything runs as it should? Yes - I would like my account to oversee the books I would like someone else to oversee the books I will leave it to my Enduring Attorney to decide No OverseerWhat is the name of the person who you to come in to oversee the bookkeeping? Medium term plan notesIs there anything else you would like to add about what should happen in your business, if you were unexpectedly out of action for a month or so?Long term coverIf you were out of action for 9 months, which of the following options could be viable to cover for you? You can choose more than 1 if applicable. My spouse A key employ I trust to be loyal A key employee, but I am not sure if they might take advantage for themselves A friend or relative who could do the job Someone else in a similar business I could trust not to try to take over the business Someone else in a similar business, but I'm not sure I can tryst them A contract position to cover the work Someone else not mentioned above Long term cover personAre you thinking of someone in particular in answering the previous question? Yes No Long term cover personWhat is their name? Long term cover descriptionIf you have named someone in response to the previous question, please describe who they are - their role in your business, relationship to you or their business name? Potential buyer?Do you think they would be interested in buying the business if you do not make it back to work? Yes No Don't know What could be sold?Please choose which options best describe the saleability of your business - choose more than 1 option if appliciable The business has substantial goodwill and is readily saleable The business brand is worth something to to someone to take over The customers of the business come to me, but if I was out of the picture they'd pay something for the business Someone would pay something to take over the customers The business could not operate without me, but someone would pay 2nd hand value for equipment etc Someone would take over existing work and then bill and pay to us our work in progress All I can expect is to recover debts owing by customers I don't know Long term plan notesIs there anything else you would like to add about what should happen in your business, if you were unexpectedly out of action for several months?NotesIs there anything else you want to mention in relation to your personal contingency planning?QuestionsDo you have any questions you would like us to answer at this point?
