business succession

Transferring ownership of an active business doesn’t happen overnight, but sudden change can. Being proactive with your Business Succession planning will allow you to successfully implement a plan at short notice if you are forced to step down from the business.  

Following death, it should be a priority that the fruits of your hard work (income derived from your business) do not go to waste. Who would actually be entitled to this share of the business?

Without a valid Will, the shares of the deceased would be subject to the Laws of Intestacy. This means that the person who inherits may not be the person you would have intended to succeed you. This could potentially put the running of the business in serious jeopardy and the value of the business may fall due to the circumstances following the death of such a key stakeholder.