Posted 02 November, 2019 at 16:59
Some of the obvious questions which arise when a business owner dies are-
All very important issues for both the business and the family when a business owner dies.
Key Priorities for effective business succession are -
Early planning for the event by means of a business will
A Business Will is an agreement which usually is a buy and sell option. It ensures that there is a known route of transfer of the deceased owner’s share of the business back to the surviving owners. Critically this agreement must be tied to the method of funding the buyback of the business share. This is commonly done using appropriate life insurance policies. In order to gain maximum tax advantage, it is vital that independent financial advice and expertise is taken when sourcing these policies.
Clearly there is a great deal to be thought about to help smooth succession when a business owner dies. I am happy to help discuss these issues with you and help you plan your business will
The Inheritance Guru