Most people have a personal Will that sets out how they want their affairs to be split when they pass away.
Did you know that a business Will is just as important, as if you die without one your wishes may not align with the law and could cause issues moving forward.
The first thing to do is to set out what you would like to happen in the event of a shareholder passing away or suffering a critical illness – This can be implemented in your Articles of Association.
Once implemented, you then need to decide on the level of cover required for your business, and in most cases there is no set formula. We can help you understand what the sufficient cover amount is based on your companies personal circumstances.
We’ll then advise, with your input, how best to effect these polices and under what structure to ensure that the wishes of the shareholders are taken into account.