Partnership and Business Share Protection
If you have more than 1 Shareholder in your business have you considered how the shares of the business would be distributed on the death or critical illness of you or another owner of the company?
- Would the shares pass automatically to the spouse of the deceased?
- Does the spouse have any interest in taking over the shares?
- Do they have the necessary expertise to contribute to the success of the business
- Will control of the business pass to the deceased’s spouse? is this desirable?
- Do the remaining owners have the funds to purchase shares on death or critical illness of the share holder?
In order to avoid extra stress at what would be an already difficult time, it is possible to plan ahead and create a legally binding document regarding future ownership of the company in the event of death or critical illness.
If you would like further advice on Partnership and Business Share Protection, please call or email us to arrange an initial discussion.
Get in touch for information and to book an initial meeting.
T: 01228 406 397
David Finan, Managing Director