“I need to find an exit for my shares when I am not around.”

A well-constructed plan is essential to protect the value of the business and provide cash for the family in the event there is a major disruption in the business due to a co-owner’s death, disability, retirement or serious major illness or any other event that jeopardizes the continuity of the business.

Ask yourself :

✅ If a co-owner dies today, can you work with his family to run the business?

✅ Will the co-owner’s family members know how to run the business with you?

✅ Can they work well with you?

✅ Would your beneficiaries be able to get a fair price?

✅ Do you have the funds to buy out the co-owner’s shares/interests from the family members when there is no pre-agreed price in a written agreement?

✅ Can the shares/interests you are purchasing be transferred quickly to you?

Problems Without Business Protection Plan

Often these are:-

  • A new partnership is created due to the inheritance of the shares/interest by inexperienced heirs. Chances are this new partnership may fail.
  • There is no pre-agreed price for any sale to take place when the heirs decide to sell to the other co-owners. As a result, it may take years to settle a transaction price.
  • Some of the unqualified heirs may insist on being directors of the company and be active in running the business. This may lead to serious disruptions and disputes within management.
  • It is possible that the co-owners may decide to abandon the business and start their own due to disputes with the heirs.
  • Loss of profits and uncertainty about the business future success.
  • After all your hard work in building your business, you need to avoid such problems.

After all your hard work in building your business, you need to avoid such problems.

We are here to assist