Building a successful business is extremely challenging and most people want to pass on the fruits of their labour to their family.
The last thing you want to see is it inherited by someone who you had not intended under the Laws of Intestacy in the event of your death.
In other words, without a valid Will the State takes over.
This is what could happen without the appropriate business succession strategies:
- Your spouse or partner and children may not inherit your share of a business.
- Your business partners may not be able to buy out the deceased’s share.
- The surviving spouse or children may be obliged to take over the running of the business.
- The value of the business could depreciate due to the inexperience of any beneficiary.
- The business may have to be sold and the proceeds may become liable for Inheritance Tax.
You may feel that you’ve prepared for the worst and set up a Company Will and a Cross Option Agreement, together with sufficient Life Cover to protect all parties’ shares of the business.
What makes us different?
We offer business estate planning tailor-made to suit you and your business.
Our planning takes the standard options available on the high street a significant step further, providing significant protection to the business and reducing the possible impact of Inheritance Tax dramatically.
In addition, the business and proceeds from a future sale are protected for your family from remarriage, creditor claims and nursing care fees.
Get in touch
Family Estate Planning can help with business estate planning in Wokingham, Berkshire, Reading, Surrey, Hampshire and across the South East.
For an informal, no obligation chat about your circumstances please email firstname.lastname@example.org or call 07984 013533.