Knutsford Corporate Estate Planning
Would your business be able to cope with the death of its owner or a major shareholder? Does your business have the necessary legal documents in place that will ensure a smooth transition? Most business owners have given little or no thought to this area of planning.
When we talk to our clients about how to protect their business, we don’t immediately cover exit planning; shareholder agreements; ownership of shares; tax mitigation; or how the business would cope if they unexpectedly died. Instead, our Knutsford IFA and Knutsford corporate estate planning team start with the basics:
Knutsford Estate Planning Solutions
Our Knutsford corporate estate planning team discuss and implement your needs, in relation to:
Does the business owner have a will that is up to date and tax efficient? Does it cover their shares in the business?
Who owns the business’s shares? Do the company’s articles and memorandum of wishes dictate how these shares will be disposed of?
Is there sufficient life cover in place in order to pay the full value of the shares to the deceased’s estate?
Who is going to be put in charge of the business if you become ill, or die? Are they capable of doing the job? Do they have adequate knowledge and expertise?
Do you have a Lasting Power of Attorney (LPA) registered?
Corporate Estate Planning Knutsford
Clearly, there are a number of issues for a business owner/shareholder to consider. Simply having a life insurance policy and a will in place is not enough. By having a member of our team talk through your wishes, and reviewing your legal documents with you, we can make sure your business and family will be left in the best possible shape if the worst happens.