Businesses & Trusts
While no one likes to think about their own death, it’s important to have a legal plan in place to ensure your final wishes are carried out.
While it’s probably not something you often think about in the thick of running a business, if you’re a business owner it’s really important to have a succession plan – that is, an idea of what will happen to the business when the time comes that you inevitably have to leave it.
Succession planning can be especially important for family businesses, helping to prevent disputes and keep the business in the family.
Succession plans for your businesses or trusts will reduce the hardship on those who are left to manage it. This can include arranging:
A. How your shares in the business will be sold or distributed,
B. Nominating someone to take your position and
C. What will happen in the event of disputes related to your share in the business.
Business planning can be especially important for family businesses as it may prevent disputes and keep the business in the family.
At Namadgi Legal, we can help with:
- Buy-Sell Agreements
- Death Benefit Nominations
- Option Deeds
- Shareholders’ Agreements