Unique plans for each client
By investing time in getting to know the business, your goals and aspirations, we can put in place a plan that helps make the transfer of ownership as smooth as possible.
Share protection plans are designed to ensure that, upon a shareholder’s death, the impact is as stress free as it can be. Legal contracts dictate the way shares are managed upon the shareholder’s death and in so doing, determine the control of the company thereafter. Typically fellow shareholders or the company itself takes out insurance policies on the lives of each shareholder and any payout following a shareholder’s death is used to buy back the shares of the decreased.
Keyperson assurance covers the loss to the business of a key person following their death or a specified critical illness and help to provide much needed funds to support the business in the period between the plan-holder’s illness and or demise and recruitment of a replacement. These plans often provide Terminal Illness Benefit alongside the plan.
Director loan account protection provides a lump sum payable to the business (or Director) upon the death of a shareholder (or Director) and enables the existing shareholders to repay any outstanding Director’s loans of the deceased. As with the above plans the cost of the scheme or plans is met by the company.
Advisers at Fleet Street Wealth are very well versed in this area and can help quantify the potential risk and determine the most suitable way of protecting against the same.