Business Succession Planning

If your business partner passed away, would your business survive working with family who know nothing about your business? Can you be assured your family would receive fair value for the business asset you have built. If these questions concern you, then you need a Business Will or a Business Succession Plan.

A Business Succession Plan, or Business Will is a pre-agreed strategy to enable a business partner or shareholder of a business to exit the business in the event of a specified trigger point. Retirement, death or total and permanent disability (or some other defined event such as trauma etc).

The terms of the Agreement are outlined in a Business Succession Agreement, or Business Will and the funding arrangments for your business can be established and managed by a clearly documented plan with an experienced business adviser.

It is very important to have a Solicitor involved at an early stage to provide guidance as to the important issues that need to be addressed within a Business Succession Agreement.

At Elevate Finance we have formed alliances with reputable business planning legal experts who can implement the agreement in conjunction with a financial plan.

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