“I need to find an exit for my shares when I am not around.“
A well-constructed plan is essential to protect the value of the business and provide cash for the family in the event there is a major disruption in the business due to a co-owner’s death, disability, retirement or serious major illness or any other event that jeopardizes the continuity of the business.
> If a co-owner dies today, can you work with his family to run the business?
> Will the co-owner’s family members know how to run the business with you?
> Can they work well with you?
> Would your beneficiaries be able to get a fair price if they wanted to sell the shares?
> Do you have the funds to buy out the deceased co-owner’s shares/interests from the family members when there is no pre-agreed price in a written agreement?
> Can the shares/interests you are purchasing be transferred quickly to you?
Advantages of UBiz
> Guarantees the sale of shares/interest at a full and fair value that was agreed by co-owners.
> Prevents inexperienced and unqualified heirs from being involved in the business or the selling of the deceased’s shares to outsiders.
> Smooth transfer of ownership to the co-owners is ensured by the Trustee.
> By using life insurance, the purchase of the shares/interest becomes very affordable, minimizing the need to borrow or strain family finances for the purchase. More importantly, it ensures that the other co-owner(s) have the necessary funds to pay for the shares/interest.
> Rockwills Trustee acts as the Trustee for UBiz protecting the interests of your beneficiaries and that of the co-owners.
> Shares/interests are easily converted to cash.
Before you set up a trust, you need to be aware of anti-money laundering regulations.