Too many businesses have no, or insufficient, provision for ensuring that share succession on death or critical illness will be dealt with in the way they would want it to be.
This frequently also leaves family members unprotected.
Having no specific business share succession arrangements is similar to having no Will as an individual. Having no share succession arrangements results in 'business intestacy'.
As a shareholder your focus is on working with your fellow shareholders to make your business successful.
If you were to die, would your beneficiaries share the same goals for the business?
Your fellow shareholders may have to work with partners who have little or no interest in the business and your beneficiaries will own shares with no ready buyers.
We can help identify your requirements and discuss potential solutions that will provide your fellow shareholders with the means to purchase your shares, while allowing your beneficiaries to realise the market value of your shareholding as a result.
Even if you have already made arrangements for share succession, a review of these arrangements could be beneficial.
We’ll conduct a Business Intestacy Risk check which will help to either verify arrangements you have in place are sufficient or determine areas that require attention.
Where necessary, we’ll support you in putting in place a 'Business Will'.
Wills are not regulated by the Financial Conduct Authority.
If you would like to speak to us about a particular issue or wish to find out more about the specialist advice services we offer for business owners, please get in touch.