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In a dog eat dog world, and a harsh economic climate, to have success in business is to have worked exceptionally hard, enacting on a history of prudent business decisions.
However, if you don’t have adequate plans in place in the event of your death, your business could be placed in an unstable position, endangering family, spouses or business partners’ financial security.
The precarious possibilities include:
- Spouse/children being prevented from inheriting your business share
- Business partners may be unable to buy out the share of the deceased
- The surviving spouse or children may be obliged to unwillingly run the business.
Without a valid business asset protection plan enshrined in your will, the deceased’s share will be subject to the laws of intestacy and the person who inherits could be different than you would intend.
The business could have to be sold if a partner cannot afford to purchase the diseased dierector’s share from surviving family.
Avoid confusion, unplanned business upheaval and uncertainty. Protection Practitioner offers Business Estate Planning tailor made to suit you and your business.
We take protection and preparation of your business estate plan significantly further than options available on the high street.
If you are concerned that your will doesn’t give your beneficiaries the security and financial freedom that they need, get in touch with Protection Practitioner for trusted advice and death planning services.