Warrington Corporate Estate Planning

Could your business cope if a business owner or major shareholder died early? Does it have all of the necessary legal documents in place in order to enable a smooth transition? Most business owners have given little thought to this area of planning.

When we talk to our clients about making measures to protect their business, we don’t just talk about exit planning; shareholder agreements; ownership of shares; and tax mitigation. We look at how the business would continue in the event of their early death.

Warrington Estate Planning Solutions

Our Warrington IFA and Warrington corporate estate planning team start with the basics:

Will:
Does the business owner have a will that deals with their shares in the business? Is it fully up to date and tax efficient?

Shareholder agreements:
Who owns shares in the business? Do the company’s articles and memorandum of wishes dictate how shares are going to be disposed of?

Protection:
Is there adequate life cover in place to pay the value of the shares to the deceased’s estate?

Control:
Who is going to take control of the business if you become ill, or die? Are they capable of doing it? Do they have all the knowledge and expertise they will need?

Do you have a Lasting Power of Attorney (LPA)?

Corporate Estate Planning Warrington

Clearly, there are a huge number of issues for a business owner or shareholder to consider. A life insurance policy and will may not be enough. When a member of our team talks through your wishes and reviews your legal documents, we can help to ensure your business and family will be in the best shape if the worst does happen.

Call our Assured Wealth and Estate Planning Warrington financial planning adviser team today on 01925 396122 and book your FREE Warrington retirement planning consultation. We are here to help you make plans for your financial future.

Assured Wealth and Estate Planning guide to the increased fee level and how forward planning can mitigate the new fees

What is probate?

When someone dies, you need to obtain the legal right to deal with their property, money and possessions, and to do so you need a grant of representation, which is commonly known as ‘probate’.

When is probate not needed?

Usually you won’t need to apply for probate if the estate does not include land, property or shares, if it is passing to a surviving spouse or civil partner because it was held in joint names or if the estate is valued at less than £5,000. However, each financial institution has its own rules and may still require a grant of probate certificate.

The new fees will apply to all applications received by the probate service on or after the date it is introduced in April 2019, irrespective of the date of death.

What is happening to probate fees?

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