Protecting your business in the event of your death or critical illness
As a business owner have you and your business partners taken the appropriate steps to protect your business and your families in the event of your death or critical illness or mental/physical incapacity?
Did you realise that without the full and proper protection in place, you are leaving your business and your family exposed not only to the taxman but also to potential financial disaster?
Your business could be forced to close
- You are unable to make decisions or sign relevant documents due to critical illness or mental/physical incapacity
- It is unable to find sufficient funds to buy back a partner’s shares from their family
- You are in a partnership and there is no Partnership Agreement in place
You could lose control of the business
- The partner’s shares have passed to their family members who now want to be involved in running your business despite your wishes to the contrary
- The partner’s shares have passed to their family and they want to sell them to a competitor for a higher price than you can afford
With the correct business succession planning and the relevant documentation in place, you, your family, your business and your business partners can be safe in the knowledge that your business is protected.
Mon - Fri: 9am - 6pm
Sat: 9am - 5pm