Do you know what will happen to your business once you are gone?
If you own a business or have a share in one, you need to be prepared for what will happen once you pass away or retire. Without a succession plan in place, your business or your shares could be subject to the Laws of Intestacy, meaning what you have worked so hard for may not actually go to who you intended.
Would you or your business partner be prepared to run the business with a surviving spouse or their children? If you do not have a succession plan in place, this is likely to happen.
Your spouse and children are the most likely to inherit your part of the business, but many spouses would not want to be burdened with running a business, and your children may be too young to do so.
The death of a significant person in the company can majorly impact the running of the business. Would you be able to buy the deceased person’s shares of the business, or do you think you would have to sell the business?
We can help you plan for any situation. Our tailored Business Estate Planning solutions can protect your business and ensure that what you have built over your lifetime will stay with you and your loved ones.
Contact us now to get your Business Estate Planning in place on: Tel: +44 7831 379562 (UK) or +34 622 374 738 (Spain), or email firstname.lastname@example.org