Partnerships and small private companies may run extremely well
under normal circumstances, in no small part due to the long-term
relationships and goodwill of the shareholders and partners
themselves. However, in the event of one of them becoming seriously
ill or dying, major difficulties can ensue for both the family and
the partnership.
Partnership and share purchase assurance are designed to provide
for such a contingency and thus ensure that the family is properly
provided for, and that the business can continue to run
smoothly.
Partnership assurance and share purchase arrangements operate
by:
- Allowing the continuing partners to buy their colleagues' share
in the business and thus ensure control and ongoing operation.
- Providing a reliable way for the afflicted partner (or
widow/heir) to obtain a just commercial purchase price for that
person's share of the business.
By planning and putting proper arrangements in place now, the
family can spend their time and effort recovering from the shock of
the event rather than seeking an elusive buyer or price for their
shares. In addition, the partners can concentrate on moving the
business forward.
To find out more about Partnership and Share Purchase Assurance
for your business, please give us a call on 0113 234 5528 or
complete the online enquiry form and we
will give you a call to discuss your requirements.