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In businesses run by unconnected parties the death or incapacity of an owner is likely to cause serious disruption and problems for both the business and the family of the owner concerned.
In relation to the death of the shareholder, partner there should be an agreement to purchase the deceased owners share of the business by the continuing owners.
As with partnership protection, a life assurance plan would enable the surviving shareholders to purchase the shares from the deceased shareholder’s estate.
Again, the type of plan and length of term will vary according to the company. T
The tax situation for shareholder protection is similar to the tax situation for partnership protection.
Contact us to find out more about Shareholder Protection Services.
Ginny is very easy to contact and always responds very promptly - she can explain complex financial issues very clearly and her advice has been very valuable in helping me decide how to take my pension fund – very important as options for funds are changing daily.