This package is designed for:

If you own a valuable business with one or more co-shareholders and directors, you need to plan how the shares pass to your co-shareholders and how your dependants benefit from the value of the business you've grown.

Our Business Wealth Protection package involves essential Wills (incorporating a Business Property Trust, Letters of Wishes) both types of Lasting Powers of Attorney and a Cross Option Agreement. The Cross Option Agreement, produced by trusted specialist lawyers we work with, allows the surviving shareholders to buy the deceased shareholders' shares at an agreed price. The final element of this package agrees a minimum value for the shareholdings in the company; each shareholder puts in place a Life Insurance Policy written into trust.

As part of this arrangement, it is compulsory for all owners of the company to take out a business Will. We'll deliver all the required legal documents at a fixed fee, per shareholder.

Package highlights

  • Creating financial security for close dependants
  • Continuity of business post death
  • Maintain control of career and business wealth
  • Fast and affordable; capped fees
  • Personal case worker with direct line
  • Free annual review service

What's included

Option Agreement and Wills

The combination of a Will, Key Person Life Insurance Policy and Option Agreement create a way to provide cash to facilitate the purchase of the shares on death as well as ring-fencing the sale proceeds into a Will Trust. The significant advantages are that family and dependants are secured an agreed value that the Trustees can use to support them. The cash is protected in the Will trust and controlled by the Trustees which means surviving family will not pay Inheritance Tax at 40%. Additionally the cash will not be wasted by young Beneficiaries or passed down a non-family line if a new spouse or partner comes into the family scene. A simple choice now can help to secure the value in your business.

Lasting Powers of Attorney (LPAs)

Illness, age or accidents may prevent you from making decisions about your business, your health and medical treatment and your finances. This leaves your co-directors and any dependants you may have in a very difficult position and, in many cases, unable to access business accounts, negotiate on behalf of the business or even access money for essential day-to-day needs.

Making both types of Lasting Powers of Attorney as part of our Business Wealth Protection package means you can choose someone you can rely on now to make decisions on your behalf in the unfortunate event that your health deteriorates unexpectedly.

Would you like to talk to someone about this? We're happy to help, contact us today

People also looked at: Shareholder Protection

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