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:

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

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

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

Control:
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.

Call the Assured Wealth and Estate Planning Liverpool financial planning adviser team today and book your FREE Liverpool retirement planning consultation.

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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