Create a Cross Option Agreement
Updated: Jul 25
If you have put in the hard work to build a business that benefits you and your family, you will want to ensure that your loved ones are provided for after you are gone.
Without a valid Will, your business might be inherited by the wrong people. Even if you do have a Will, are the right people set to take control of your livelihood? Would you or your business partner be able to run the business with the surviving spouse and beneficiaries?
Setting up a Cross Option Agreement as well as a Will ensures that the surviving business partner has the right to buy out the deceased’s share of the business. The surviving partner can pay the deceased’s family members with the proceeds of the family life assurance policy, in exchange for their share of the business. This way, the surviving partner would own 100% of the business.
Our tailored Business Estate Planning solutions can provide significant protection to you and your business. We can help you to minimise the impact of Inheritance Tax, provide protection to your business, and make sure that the right people are in charge of the business you have worked hard to build.
To learn more get in touch with us on: Tel: +44 7831 379562 (UK) or +34 622 374 738 (Spain), or email me at email@example.com