Liverpool Corporate Estate Planning
How would your business deal with the death of a business owner or major shareholder? Does the business have all the necessary legal documents in place to enable a smooth transition? Most business owners have given little or no thought to this area of planning.
When we begin to talk to clients about protecting their business, we don’t immediately talk about exit planning; shareholder agreements; ownership of shares; tax mitigation; and how the business would strive in the event of their early death. Instead, our Liverpool IFA and Liverpool corporate estate planning team start with the basics:
Liverpool Corporate Estate Planning Specialist
Our Liverpool corporate estate planning team talk through and implement your needs, in relation to:
Does the business owner have a will drafted that deals with their shares in the business? Is it up to date and tax efficient?
Who owns how many shares in the business? Do the company’s articles and memorandum of wishes dictate how shares will be disposed of?
Is there sufficient life cover in place to pay the value of the shares to the deceased’s estate?
Who is going to run the business if you became ill, or died? Are they capable of doing so? Do they have the right knowledge and expertise?
Do you have a Lasting Power of Attorney (LPA) registered?
Corporate Estate Planning Liverpool
Clearly, there are a huge number of issues for a business owner/shareholder to think about. Simply having a life insurance policy and basic will in place may not be enough. By having a member of our team talk through your wishes and reviewing your legal documents, we can ensure your business and family will be in the best possible shape if the worst happened.