Business & Agriculture Protection
Business owners making sure their efforts are not wasted
Most business owners have spent a lot of time, energy and other resources building their businesses up. They want to ensure that in the event of their death or incapacity that all this effort will not go to waste. Businesses can be run into the ground or pass into the hands of the wrong people.
Business Lasting Powers of Attorney
Business owners of any kind need to legally set up someone to run their business financial affairs in case they lose capacity. Frequently, by accident, this is left in an Lasting Power of Attorney to the spouse, who may not be appropriate. They may not be suitable or capable and may be in a position to override any remaining partners or shareholders to the detriment of the business.
Business (incl Agricultural) Tax Planning
This is a specialist area incorporating tax saving measures and business estate planning. We want to save your business at the point when it is passed on or its assets are inherited. This can be a major benefit for any business and can help protect it for the first and later generations.
These are specialist business services for directors and shareholders.
What happens when one shareholder dies?
Who will buy them out, where are the funds coming from?
These arrangements give the shareholder the money and the option to buy out the deceased partner, instead of the business passing to a spouse who either cannot run the business or sells it to a stranger.
We go a step further and ensure that when the spouse passes their money on, the protections for the money benefit the next generation too. This helps both the business partner and the inheriting family. It can even help if a director is later diagnosed with a critical illness.