Shareholder & Partnership Protection
If your business is a partnership or a private limited company then it is likely that ownership is in the hands of a small group of people. Have you ever considered what would happen if one of you got stuck down by serious illness or were to die suddenly.
As much as we don’t like to think about these things, they do happen. In the worst scenario your concerns are better placed elsewhere, rather than worrying about the ramifications for your business, which is why shareholder and partnership protection is cover you can ill afford to be without.
Being aware of the detail, the laws that govern what happens in the case of a partner dying, helps you to be prepared. For example, shares do not automatically get passed down to other share holders in a limited company and in a partnership lacking formal agreement, a partnership is automatically dissolved upon a death.
The facts are out there, but it’s easy to get them wrong. In order to give you and your partners or shareholders the right cover to ensure your business runs uninterrupted, come and have a chat with an Eclipse adviser.