Altrincham Corporate Estate Planning
How would your business cope with the death of a business owner or major shareholder? Does your business have all of the necessary legal documents in place to ensure a smooth transition? Most business owners have given little thought to this area of planning.
When we talk to clients about protecting their business, we don’t immediately begin to cover exit planning; shareholder agreements; ownership of shares; tax mitigation; or how the business would cope in the event of their early death. Instead, our Altrincham IFA and Altrincham corporate estate planning team start with some basics:
Altrincham Estate Planning Solutions
Our Altrincham corporate estate planning team discuss and implement your needs, in relation to:
Does the business owner have a will that covers their shares in the business? Is it up to date and tax efficient?
Who owns shares in the business? How many? Do the company’s articles and memorandum of wishes dictate how these shares will be disposed of?
Is there sufficient life cover in place to pay the full value of the shares to the deceased’s estate?
Who is going to be in charge of the business if you become ill, or die? Are they capable of doing so? Do they have the correct knowledge and expertise?
Do you have a Lasting Power of Attorney (LPA) registered?
Corporate Estate Planning Altrincham
Clearly, there are a great number of issues for a business owner/shareholder to think about. Simply having a life insurance policy and will in place may not be enough. By having a member of our team talk through your wishes with you, and reviewing your legal documents, we can make sure your business and family will be in the best possible shape if the worst happens.