If you are a director in a limited company, have you thought about who you or your fellow directors would want your shares to pass to in the event of your death? Without a formal arrangement in place, the shares would fall into the deceased’s estate and would more than likely go to his or her family who could then end up with a controlling share and a say in how the company is run. It is quite likely that this would not be a satisfactory outcome for anyone. The death of a shareholder or a valued and skilled employee can have a major impact upon a business and it is essential that the right decisions are made in advance to ensure that the business can continue with as little disruption as possible. If a director in your company is responsible for repaying a specific loan or debt, how would you repay it in the event of his or her death? If you in a partnership, what would happen in the event of a fellow partner dying
At Will Assist Ltd we can visit you for a consultation without obligation. Once we have a comprehensive understanding of your business, we can give you tailored advice on how to structure your company will and make sure that the direction and profitability of the company can continue should the worst happen.
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