Protecting your business

Preserving Your Business Assets
for the Benefit of Your Family

Google Rating
5.0
Based on 175 reviews
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How can I preserve my Business Assets for my Family?

Hard work and dedication has meant that you have built up a sound business for the benefit of you and your family and naturally you want to ensure that your loved ones are provided for in the event of your death or ill health. So, what if the worst should happen and either you, or a business partner were to die or suffer a serious illness, such as a Cancer?

Do you know who would actually be entitled to your share of your business?

Without a valid Will, the deceased’s share would be subject to the Laws of Intestacy and the person who inherits may not be the person you intended. Would you or your business partner be content to run your business with their surviving spouse or their Beneficiaries? This could have a major impact on the running of the business, or the value of the business may now go down following the death of such a key person.

Without the appropriate Business Succession planning:

  • Your spouse/partner and children may not inherit your share of a business.
  • Business partners may not have the funds to buy out the deceased’s share.
  • The surviving spouse or children may be obliged to take over the running of the business.
  • The value of the business could depreciate, owing to the inexperience of any Beneficiary
  • The business may have to be sold and the proceeds become liable to IHT.

Please note that the Financial Conduct Authority do not do not regulate some forms of Trust products and services. These services are provided by our sister companies Frog Financial Management.

Safeguarding your business during your lifetime and for future generations, will ensure your loved ones are provided for in the way that you wish.

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Some of our Google Reviews

Frog Financial Management
5.0
Based on 175 reviews
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If you're looking for mortgage, insurance or any other financial protection advice, you really couldn't do any better than Greg, Charley and the rest of the Frog team. Since putting our house on the market, Greg was very quick to respond and generous with his time - always explaining things clearly and what our options were. With Frog's support, we had trust that we were making the right choices for our family.
Owen Adkins
Owen Adkins
1728940246
We have just recently finalised the purchase of our house and I can't thank Frog Financial enough! They made buying our first home so easy and stress free. Greg was really helpful during the process and took time to explain things in detail as this was all new to us.Charlie was amazing when it came to helping us find The right home insurance at The best price. The rest of the frog financial team were also helpful and so responsive to our emails. I really cannot recommend them enough to anyone who needs help
Louise Wilson
Louise Wilson
1728923689
The team at Frog are oustanding. A big thanks to Charley (who is amazing) at helping with my home insurance.Thank you very much
John Vassallo
John Vassallo
1727261810
I can't thank Frog Financial enough! They made buying our first home so easy and stress free. Greg was so helpful throughout the whole process and really took time to explain things in detail. The rest of the team were also super helpful and proactive and so responsive to our emails and phone calls. I honestly cannot recommend them enough!
Tom Harding
Tom Harding
1727018918
Greg, Ruth & the whole team at Frog Financial have been amazing at securing mortgages for myself and my sister. We have had lots of changes & challenges and they have been very helpful & quick at responding to multiple questions! For myself, being self employed, Greg worked wonders to find a lender that worked. Fingers crossed until it all completes!
sarah heduan
sarah heduan
1725377138
I highly recommend Frog Financial Management. Charley is fantastic, so helpful and sorts us out every year. Than you
Lesley Ashton
Lesley Ashton
1724154889
Can't recommend Craig and his team enough! Amazing family ran business who will work tirelessly to provide you the best service. Got us exactly what we wanted and was always just a phone call away if we had any queries or needed some advice and support.Will definitely be using them again.
Sacha Podda
Sacha Podda
1724067412
I could not recommend using Frog financials more!They are quick to reply to any queries via email and on the phone. They provide well informed advice and are exceptionally friendly when answering questions.I will definitely be using them again in the future!
Katie Bryden
Katie Bryden
1723557747
Greg and the team have been super helpful throughout the whole mortgage process! Greg has explained each part of the application with great detail to make sure we understand it fully. They were prompt in their replies and made this a completely stress-free experience, highly recommend!
Emma Hooley
Emma Hooley
1722871153
Very professional and knowledgeable service with great detail and kindness, I have been using frog services now for 12 years and am very happy with the products they find for me
Paul Singh
Paul Singh
1721049224
After trying various agents and insurers, Frog FM was able to secure exactly what I needed and for a reasonable premium. Professional and friendly service. I know who to go to first next time!
Simon Gardner
Simon Gardner
1720201499
I first contacted Frog several years ago and they are now my "go to" company for all financial matters and advice. I have always found them friendly, efficient and easy to deal with, and I applaud their ability to convert "financial jargon" into everyday understandable language.I also especially appreciate that they will contact and remind me when I need to review some aspect of my finances. I can without hesitation fully recommend Frog and all their team members
Roger James
Roger James
1719570412
Charley and Danni have been exceptional in assisting me with managing my insurance requirements. They offer an outstanding and effortless service.
Alex Woodford
Alex Woodford
1718270992
Amazing.Charley and Greg were amazing in listening to my needs and being able to offer the best solution for me.Thank you Charley for your patience with me. You have been incredible.I like the fact that they are a local company.I strongly recommend them.
mireille lavollee
mireille lavollee
1718203179
I have used Frog Financial for several mortgages and cannot recommend them enough. Extremely helpful, professional and efficient and always going above and beyond to make the process as smooth as possible and finding the best options for me. Everyone in the team is brilliant to work with and I will of course be using them for all future mortgages! Sam x
Samantha Simpson
Samantha Simpson
1713710984
I dealt with Greg to get a mortgage on my first property - he was fantastic, helped educate me on the process as well as coming up with outside of the box solutions, really happy with the service and will 100% use him again in the future.
Tom Evans
Tom Evans
1713279680
An exceptional service given. Everyone we have spoken with has gone above and beyond to help us and answer all questions we have. Can not recommend Frog financial management enough and will be using them again in the future.Helena & Jason
Jason Benn
Jason Benn
1712763206
Greg and the team at Frog Financial have been excellent with finding me a mortgage a couple of years ago and managing the renewal recently. They have been able to find the best deals in the market and provide good options and advice based on our conversations. They are friendly, attentive and responsive and I highly recommend them.
Carl Goodman
Carl Goodman
1712568081
Amazing team could not have done it without them.
Grace Kearns
Grace Kearns
1711487336
Excellent service from Charley on a non-standard building and contents insurance. She was prompt, and knowledgeable, and helped clarify various issues
andrew grant duff
andrew grant duff
1709556163
Phenomenal service. I have and will recommend Frog Financial to everyone. Informative, helpful, great communication, so kind, and we really felt like the whole team cared about us. Took so much of the stress out of the process. We have no doubt that we will use Frog again! 🐸
Elena Prokopiou
Elena Prokopiou
1708805074
Arranged our mortgage deal and building insurance with Frog. They were really helpful throughout the whole process and we would have no hesitation at all recommending to others.
William Oakes
William Oakes
1708085925
Just the best, Greg helped me find a mortgage for my first property when other mortgage brokers couldn't find one to fit my needs. They were great answering any questions I had and helped me a lot throughout the house buying process. Also helped find and set up house insurance. Will be continuing to use them in the future and I highly recommend them.
K.K. Gres
K.K. Gres
1707130758
I was directed to Frog Financial in September 2018 and received excellent financial advice and general guidance. Since then I have requested them to investigate house insurance for me and have always signed up to the suggested policies.I would have no hesitation in suggesting they are approached by my friends to discuss their requirements.
Dave Shirvell
Dave Shirvell
1706109059
Charley was fantastic to work with. She was super efficient, working swiftly to find the best deal and to make it happen. I would be thrilled to recommend her and Frog Financial.
Jackie Samuel
Jackie Samuel
1705480246
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The options for properly protecting your Business Assets can be complex and confusing – that’s why we’re here! Check out other information here

Let us first assume that you have made a Will and that there is a clause in the Will dealing with business assets in favour of your spouse or partner and that they inherit the family business or your share of a business.

Would they even want to be involved with the running of the business?

Many spouses would probably not want to be burdened with the running of a business they may know very little about. For instance, if there are young children to care and provide for, then the surviving spouse might prefer to be bought out.

Would there be sufficient funds to purchase the share of deceased Director from their family? Or would the business have to be sold?

If the business is sold by the deceased’s Beneficiaries, how would this impact on their Estate, as their assets increase? Also, how would it affect the surviving business partner’s assets, as these too increase? Both parties’ Estates could be impacted by future IHT charges, having now lost any Business Property Relief, previously available whilst the company was still trading. With the sale of the business in this way, you risk losing 40% of the cash proceeds to the tax man.

Note: This information is applicable to Limited Companies or Partnerships. The examples illustrate a two-partner business but are also applicable to multiple shareholders/partners

Each Director leaves their share of the Business to their Beneficiaries via their Will.

Consequences to Director A’s Beneficiaries

Consequences to Director B
Beneficiaries will now own part of the company which they may not want to run.

Share of company is now part of Beneficiaries’ Estates and therefore is at risk from divorce, remarriage, bankruptcy and long term care.

If Beneficiaries decide to sell the business the proceeds will enter their Estates creating a potential IHT liability on their death.

 May not want to run company in partnership with Director A’s Beneficiaries.

May not have the funds to buy out Director A’s share of the business.

Note: The effects of the above problems would increase considerably if the company share is a minority holding.

Perhaps you have made some provision for this eventuality.

You may feel that you have prepared for the worst and taken out sufficient Life Cover to protect all parties’ shares of the business. You may even have had the presence of mind to set up a Company Will and a Cross Option Agreement.

This would ensure that the surviving business partner(s) has the right to buy out the deceased’s share of the business and the proceeds of the life assurance policy could be paid to the surviving spouse or Beneficiaries in exchange for their inherited share of the business. Equally, the surviving spouse or Beneficiaries would be able to exercise their right to sell their share of the business to the remaining business partner(s), in exchange for either the market value or an agreed amount, covered by a life assurance policy.

Please note, the Financial Conduct Authority do not do not regulate some forms of Trust products and services.

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

London Help to Buy: to reflect the current property prices in London, from early 2016 the Government increased the Help to Buy: Equity Loan scheme’s upper loan limit from 20% to 40% for buyers in all London boroughs.
You won’t be charged loan fees on the 20% or 40% loan for the first five years of owning your home.

For your fee Business Succession planing consultation
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