Too few businesses have sufficient provision to ensure that share succession, on death or critical illness, will be dealt with in the way they'd want.
This frequently also leaves family members unprotected.
Having no business share succession arrangements is similar to having no Will as an individual, which results in 'business intestacy'.
As a shareholder your focus is on working with your other shareholders to make your business successful.
If you were to die, would your beneficiaries share the same goals for the business?
Other 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.
Together, we can 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 will conduct a Business Intestacy Risk check which will help to verify arrangements you have in place are sufficient or determine areas that require attention.
Where necessary, we’ll support you creating a 'Business Will'.
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.