Business Wills & Share Protection


It is normal these days for our individual clients to have in place an up to date and valid Will. Typically the Will spells out exactly what the individual would like to happen to their personal assets on their death. Wills are created to ensure the desired beneficiary inherits the assets as tax efficiently as possible and with as little conflict as possible.

What happens to the shares in a business on the death of a key member of staff or shareholder is often overlooked and left to chance but protecting a business can often be just as important. Having a strategy to cope with this unfortunate situation should make perfect sense to any business owner or key shareholder.

This however can be a complex area as businesses differ vastly in their make up and include private and public limited companies, sole traders, small family firms and partnerships. Each will have at least one interested party or shareholder and often there will be many. When a key shareholder or member of staff dies there is a balance to be struck between ensuring that the interests of the remaining shareholders are respected but also that the beneficiaries of the deceased are catered for.

Jigsaw specialise in the creation of  “business wills” which sit alongside your overall business succession plans. We will work with you and your key shareholders and business controllers to ensure every eventuality is catered for. Typically we will use tools such as key man insurance, shareholder protection policies or cross option agreements and trusts but we will also advise on the most tax efficient way for a company to finance this essential peace of mind.

For a free, no obligation consultation and review of your business will strategy, please contact us to see how we can help, or call 02380 004444.

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