Did you know your business may be at risk if not all of those people who have a stake in the business have sorted out their personal planning?
It is vital that your personal planning works in harmony with what the company documents say and with what you and your co-owners would expect and want to happen in the event of the unexpected death of one of you.
Many business owners would ideally want to be in a position to buy out the interest of a deceased shareholder in order to get on with the running of the business. The deceased’s family can then be provided for from the sale proceeds.
Our Private Client specialist lawyers work closely with business owners and corporate colleagues, to explore the issues and implement appropriate legal changes to company or partnership documents.
It is absolutely vital that the individual business owners’ will planning works in harmony with provision made for the succession in the business.
Our fixed fee solution is specifically designed to help business owners address this important issue cost effectively and with minimum fuss.
This means that:
- valuable relief from inheritance tax attaching to the business owner’s interest in the business can be captured rather than potentially wasted;
- there is provision in place which will secure the effective ongoing management and control of the business in the event of the death of one of the business owners;
- the value represented by the deceased business owner’s interest in the business will end up in the right hands.
Our solution encompasses wills and powers of attorney for shareholders and their spouses or partners; appropriate cross option and any other relevant shareholder provision and a link with a financial adviser to obtain related insurance cover (alternatively we can work with your existing financial adviser to deal with this).
We will be delighted to arrange a no obligation meeting for you to discuss personal planning requirements and how we can help.