you can check here Ownership Protection
dating royal doulton plates Ownership Insurance provides the funds needed to transfer ownership of a business to a chosen party after the death, total and permanent disablement or major illness of a partner of the business.
It protects business owners and their equity by providing the funds for remaining partner(s) to buy out the equity of a deceased or disabled business partner.
If an owner dies or suffers a permanent disablement, the fair, agreed value of their share in the business, usually market value, is paid directly to their estate or family, in a timely manner, minimising costs and delays.
The remaining partner(s) in the business aren’t forced to source funds to buy out the deceased or disabled partner. Often funding this type of transaction without the use of insurance can be very difficult and can cause greater problems for all parties.
Ownership Protection Insurance helps to avoid interference in the business by the deceased or disabled owner’s family or beneficiaries, which helps the remaining partners get on with business.
We strongly recommend, that once an Ownership Insurance policy is issued, that the purpose of the cover is documented by the business in a Business Buy/Sell Agreement.
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“I have had patients come to see me and reject bypass operation because of the long-term financial implications”