Business Services

How much time do you spend on the business, rather than in the business? And what safeguards do you have in place to ensure all of your hardwork and investment isnt wasted.

Similar to a personal will, a comprehensive business will is important when there are two or more unrelated (usually) owners of a business. In the event of either a voluntary or involuntary exit, it enables the terminating owner to transfer their share of the business to the remaining owners at a predetermined price.

A comprehensive business will takes into consideration the legal, taxation and financial impact of voluntary and involuntary exits. Consequently, it involves Accountants, Lawyers and Risk Protection Specialists.

Our advice, focuses on involuntary exits arising from a life risk i.e. the death or temporary and/or permanent incapacity of an owner to ensure the agreed amount of funds, from the preffered source, pass to the correct person, when it is needed.

To help you understand how important it is, and the types of issues you will be forced to deal with if you don't prepare a comprehensive business will, we have a detailed example for you to work through

Ask yourself how you would handle the following calamitous situation

You have just received a telephone call from Ellie who is married to Peter, your business partner. Ellie informs you that Peter has just passed away after suffering a massive heart attack.
By way of background, you & Peter own a successful manufacturing business, recently valued by your accountant at $2 million. You oversee the workshop, whereas Peter is responsible for attracting new business keep reading »