The Private Business Shareholder

If David and Bruce in THE FAMILY BUSINESS OWNER had formed themselves into a Limited Company, much the same scenario would play itself out, except that the company would not fold immediately. It would likely die a slow death. The surviving spouse/partner would likely ‘hinder’ the business, or sell to a competitor because they got a better price for their share.

The bank would likely call in the debt because the ‘risk’ had changed and likely the contract did not include a clause for such a situation. And, customers would likely question the adequacy of the business leadership and move their trade to a competitor.

This is a HIGHLY SPECIALISED area of inheritance law. The good news is; that Edmunds and Eve will ‘sound-out’ all the business and family matters and set up a Will Plan where all concerned are content. It would avoid a court battle over the scraps and save a huge pile of money and stress.

In CONCLUSION

If you would like to know how the law might affect your wishes and family circumstances, then feel free to contact us for a confidential discussion.  Call 0118 9 740 130 or complete the email enquiry box and we will be in-touch shortly.

Please note that the above illustrations are for general information purposes only and should not be taken as legal-financial advice.  You should consult a qualified professional before making any legal or financial decision that affects your person, your family or your business in relation to the contents of this website. See our Terms.

 

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