Here at Central Business Services, when we speak with local Loughborough businesses about their business protection plan some of the most common questions we get asked are:
What happens if I die?
What happens if my partner/co shareholder dies?
What happens if I have a dispute with my partner/co shareholder?
What happens if I divorce – or my partner/co shareholder divorces?
How do I ensure that the people I want get their share of my assets?
Whether the business is a new start up or already established these questions tend to remain the same. It is amazing how few small to medium businesses actually have adequate protection plans in place should things go wrong.
The idea behind our legal team’s “Business Protection Package” is to look at these questions, plus quite a few more. Then help you put in place a framework to protect those people involved and, where appropriate, ensure the continuity of the business
Partnership Agreements, Shareholder Agreements, Cross Option Agreements, properly drafted Wills and Pre/Post Nuptial Agreements can all play a part. All too often these are done in isolation without proper consideration of their effect on each other.
If you run a business, don’t just go to someone who only writes wills. It is important that other considerations are taken into account. Proper planning should involve consultation between you, a solicitor who understands commercial law and your accountant.
Our Business Protection Package aims to bring all of the above together so that the right result – the result you want – is achieved.
There’s quite a bit of discussion involved and quite a bit of thinking on your part. However, the end result will give you a great deal of peace of mind.
The cost depends on the complexity of your particular situation and how many people are involved. Typically prices start at around £1,500 for the full package.