Plan Today.
Protect Tomorrow.
Plan Today.
Protect Tomorrow.
The Olympics of Rio 2016 are upon us and it's hard not to acknowledge the immense combined work efforts from sports such as synchronized diving, team pursuit cycling or the rowing teams.
The Olympics of Rio 2016 are upon us and it's hard not to acknowledge the immense combined work efforts from sports such as synchronized diving, team pursuit cycling or the rowing teams.
The joint focus required to attain medals is, in some cases, a life-long dream being realised for all those teammates together sharing the pain and hardship to get there.
This effort and focus is not dissimilar to a group of business owners together acting as shareholders or partners ("team") with a common long term goal of growing their business to success.
But what if there is an injury in an Olympic team? What happens then?
The remaining team members come together, retain control over the team and continue towards the goal. For the injured party it is unfortunate to have been dealt the cruel blow, however the team must go on to achieve their long term goals.
In a business "team" scenario there can be a similar view taken on what happens if a shareholder or partner is to die. In this circumstance the remaining shareholders or partners can come together and look at retaining control of the business.
How might they do this?
Of the two options above you can decide which way you believe is more effective in achieving the long term goals for the business, we know which one we believe!
If option 1 is of interest, speak to us about how the correct advice and insurance product can provide the funding required to buy the deceased's share of the business allowing:
Speak to us if exploring the potential benefits of ownership protection is of interest to you or your clients. We specialise in working alongside solicitors, accountants and business owners in getting this important aspect right.