If you have a modest turnover business with one or more co-shareholders and directors you need a Shareholder Agreement to determine what happens to the business in the event of disagreement, illness or death.
We work with trusted specialist lawyers to provide you with a fixed fee Shareholder Agreement as part of the Shareholder Protection Package. We also include a Will and both Lasting Powers of Attorney to further protect your business and position as a shareholder.
- Certainty of fixed professional fees
- Quick and remote delivery of advice and documents
- Confirms and protects shareholding
- Manage who makes business decisions
- Creating financial security for close dependants
A Shareholder Agreement is an agreement between the owners of the business and puts into writing the number of shares each person owns, who makes operational decisions and what happens in the event of a disagreement. It also regulates what happens if someone wants to leave the company or if a shareholder dies.
Disputes cost money and can cripple a business. Choosing Shareholder Protection now can help avoid that, creating a reliable foundation to build a successful business relationship.
As soon as you have assets such as shares in a company you immediately need to make a Will. The shares form part of your Estate and there may need to be a decision made by your family about selling them to surviving company shareholders. A well-drafted Will by a qualified and regulated legal business helps you appoint Guardians for your children, give financial certainty to dependants and nominates someone you trust to carry out your wishes.
Lasting Powers of Attorney (LPAs)
Illness, age or accidents may prevent you from making decisions about your health and medical treatment and even prevent you from accessing your own money. Making LPAs means you can choose someone you can rely on now to make decisions on your behalf in the unfortunate event that your mental or physical health deteriorates unexpectedly. There are two types of LPA, one for decisions about your property and financial affairs and one for decisions about your health and welfare.
Without both LPAs in place, a loss of capacity on your part could put you and any dependants in a very difficult position, potentially unable to access money for essential day-to-day needs. To gain the authority to pay bills and make decisions in your best interests, an expensive court application would need to be made, which can be avoided with correctly drafted LPAs.
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