Statistics show poor planning increases the likelihood of your business failing. It’s up there with financial mismanagement, insufficient market research, and poor leadership.
Every business is different, from operation to structuring. What do you have in common with all other business owners? You’ve invested a lot of time, money, and emotion into your business…and you don’t want to see your business ground to a halt. This can be the harsh reality if a business owner loses capacity or dies.
Think about all the things you might be responsible for:
• business bank accounts
• authorizing wages
• paying suppliers
• managing clients
• managing suppliers and delivery of goods or services
Not to mention all that golden business experience and information swirling around your head.
We create comprehensive estate plans. This means planning for two events – if you lose capacity AND if you die. The plan covers both your personal life and business life.
What planning do you need in place for your business? The right people in the right seats and, importantly, with formal authority to make decisions and act on behalf of your business.
What’s the long-term strategy for your business? If you die, can it be sold? To whom? Do you want it transferred to a loved one? What are the practicalities of your plan? For example, does your loved one have the requisite qualifications and desire to run the business?
There is no “one size fits all” and each business requires a bespoke approach. We discuss yours and your business’s needs in our initial consult. From here we formulate the appropriate strategy for your estate plan. Sound like something you need to get sorted? Head over to the ‘Request a booking’ tab now.
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