Business Protection

Business Protection

Many business owners will take steps to minimise risk to their business – insuring assets such as property, equipment, vehicles, etc. but what would happen on the death of key people, partners or directors?

Business owners need to consider what would happen to your share of the business if you died prematurely along with the financial impact it could have on your family. Business owners also need to consider what would happen to the business if a co-owner died prematurely.  

Family: What would happen if you died prematurely?

  • Would they take over your share of the business?
  • Would the remaining shareholders have the funds needed to buy your share back from your family?
  • Has a plan been formalised?

Stakeholders: What would happen if a Business Co-Owner died prematurely?

  • Would you maintain control of the business?
  • Do you have the funds to buy back their share of the business from their family?
  • Has a plan been formalised?

 

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