Keyman/Shareholder Protection

What happens to the Directors’ shares on death?

Have you and your co-directors discussed this? If nothing is put in place, you could find yourself in business with your director’s family!

Could you work with their Beneficiaries?

Has a plan been drawn up within the business that means a lump sum will be paid to the company which can then be paid to the beneficiary in the event of death?  Has this been set out in a legal contract with the beneficiaries having a full understanding of the process in the event of death?

What impact would the death or severe illness of a key employee have on your business?

Would your business suffer losses if you lost a key employee?  Could your business survive without a key employee?  How difficult would it be to find a replacement for a key employee?

Got a question? Please get in touch!