Corporate Estate Planning Warrington

When you think about corporate estate planning and ultimately protecting your business, you will most likely think about insurance of one form or another. However, when we talk to clients about protecting their business, we talk about exit planning, tax mitigation, shareholder agreements, ownership of shares and how the business would continue in the event of their early death.

We start with the basics

Will:

  • Is there a will drafted for the owner dealing with their shares in the business? Is this up to date and does it reflect your wishes and those of your beneficiaries?
  • Is the will drafted in a tax efficient manner?

Shareholder agreements:

  • Who owns what shares?
  • Are they voting shares?
  • Does the companies articles and memorandum of wishes dictate the disposal of shares?
  • Has the value of the business changed in the past year, if so what is the value now?
  • Does any life cover for the shareholders reflect their share values?
  • Is there a cross option agreement in place to dispose of the shares effectively?

Inheritance and capital gains tax

  • Does the business qualify for Business Property relief? If yes, have the relevant documents been drafted to allow for this?
  • Are the business assets likely to attract Capital Gains Tax (CGT) on death or disposal post death?

Protection

  • Is there enough life cover in place to pay the value of the shares to the deceased estate?
  • Can a Relevant Life policy be used to reduce tax payable on insurance premiums?
  • Is critical and terminal illness covered in the current plans? Do you need this?

Control

  • Who will run the business if you were to become ill, or die? Are they capable? Do they want to? Do they have the knowledge and expertise to manage the business?
  • Do you a Lasting Power of Attorney (LPA) registered for yourself? If not, who will run your affairs if you become incapable.

As you can see, there are lots of issues for you to consider. Simply have a life policy and a will may not be enough. Call the Assured Wealth and Estate planning Warrington IFA team today to book a FREE consultation.


Why Choose us

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Investment portfolio review

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Cash flow modelling

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Fully Independent

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FCA regulated

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Financial planning

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Estate planning qualified

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Pension transfer specialists

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Occupational pension specialists

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All types of mortgages

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Care fee planning

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Low cost fees

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Corporate planning

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Wealth management

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Retirement planning

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Inheritance tax mitigation