The loss of a major shareholder or partner can cause serious problems, and not just within the business itself. In the case of a partnership for instance, on death the partnership will be automatically dissolved unless an agreement exists to the contrary.
Rather than inherit the shares, beneficiaries often prefer the monetary value of a shareholding. The remaining shareholders are almost certainly going to want control over the deceased’s shareholding, so why do so many businesses leave this to chance?
Share Protection helps the surviving shareholders or partners keep control of a business if a major shareholder or partner dies, or is diagnosed with a critical illness.
We recommend solutions that alleviate the issues arising from unforeseen events. Our specialist advisers understand the needs of individual businesses and recommend solutions that fit within their business model.
Some of the issues that may arise include;
After taking the time to understand your business we will demonstrate the best available options available to you, any other shareholders and your company. We will introduce other professionals, such as lawyers where appropriate to ensure the legal agreements required to ensure your plans are realised should the worst occur are in place.
Your staff makes your business work and if they are key to the success of your business then they are a valuable asset. One question, what would it cost your business if they were to suddenly die?
If you're a company director and you have life insurance in place to protect your family, you could be paying more tax than you need to. We can provide a full review of your existing policies to ensure the most appropriate structure and benefit.