Legacy planning

You might have already built a valuable successful business, or you may be on the way with a vision, we are here to help.

If you’re already established you may be thinking about a sale? We work along side some very experienced solicitors that can assist with this. Once you have realised a financial amount for your hard work building a business what do you do next? We will help you put this money to work tax efficiently to keep you comfortable for your retirement. Taxation to you now is important but Inheritance Tax is 40%, would you be happy for the government to take as much as 40% of your hard work? You will want to plan to avoid this unnecessary taxation to your beneficiaries, we are experts in inheritance tax planning. We can introduce you to our trusted experienced solicitor partners or we can work as equally comfortable with your preferred solicitor to achieve your objectives.

If you are at the vision stage then we can assist in your success by helping you move funds from the business to your own name via directors pension planning. You may also need help with financing for your business or a high net worth mortgage.

In terms of legacy planning we will help you review and protect the ownership of your business. What if an event happens that threatens or destroys your business? What continuity would you want?

If one of the main shareholders passes away what happens to their shares? Without planning they would pass to their next of kin, this could be a partner, child, parent or someone even more distant. Would you want to be in business with your business partners parents or partner? Some simple planning via a share holder agreement and some life assurance agreements can avoid this. The set up is such that the surviving business partners are assured they would have enough financial funds to buy the deceased shares from the deceased’s family. The survivors will end up with full control and ownership of the business and the family / beneficiaries would end up with cash to the same value.

At the same time, when we look at this planning we will also review how the business would be effected in the event of a critical illness or death of a key person. This could be an owner who drives the business of a key member of staff.

Being a business owner is both exciting and financially rewarding. It brings a constant list of tasks and issues to think about. Our aim is to simplify some of these issues for you so you can focus on your core business. It starts with a free initial consultation and hopefully grow into an ongoing relationship where we can be at hand to assist at each stage of your growth and success.