Partnership & Shareholder Business Protection
A partnership can be an effective method of pooling resources and skills to the financial advantage of all concerned. However, it brings with it responsibilities and the possibility of financial burden, especially when one of the partners dies, retires or becomes incapacitated. For a partner, his share of the business is likely to be his greatest financial asset so he needs to take steps to protect it, not only for the benefit of his family, but also for the benefit of the other partners in order to help ensure the continuation of the business.
The directors of private limited companies are in a similar position. Business Protection Plans, based on a suitable legal arrangement, can provide a simple way to protect the interests of the partners and shareholders.
For more detailed information on both your personal and business assurance needs, contact your nearest ProFin regional office.