Business Wills
Did you know that your business
needs a ‘Will’ as much as you do? Most people are familiar with the importance
of having a personal Will, but business owners have to go one step further and
think about what will happen in their business in the event of unexpected
accidents, illness or death of a significant person in the business.
In business life, as in daily
life, unexpected issues can and do occur. Business owners can be temporarily or
permanently taken out of action as a result of sickness and accident, major
health traumas and premature death.
There are significant
consequences to these events for your business and your family. A ‘Business
Will’, also known as a ‘Buy-Sell Agreement’ sets out what is to happen to your
business in these circumstances. It is usually supported by insurance policies
which ensure that the funds are there so the business can continue to run as
smoothly as possible.
Business Wills provide protection
to you, your family, your business and your business partners.