Protecting your business

Preserving Your Business Assets
for the Benefit of Your Family

Google Rating
5.0
Based on 168 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

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.
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
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
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
The team at Frog did a stellar job of our remortgage, they took the stress out of the process with prompt, friendly and most importantly informative communication which made the whole process a breeze. We would not hesitate Frog to anyone. Thank you!
Lawrence Mills
Lawrence Mills
1705081739
I have been using Craig and Greg for 3 years and I have been very impressed with the service from Frog. The mortgage solutions that I required were fairly unusual and Greg was able to provide a bespoke service to suit my needs.
mark jordan
mark jordan
1704296797
Amazing financial service from Greg and his team.Really friendly, approachable and efficient. No waiting around for anythingGreat knowledge on helping me, they were also very patient and made the experience stress free. I will be recommending them to anyone needing help with mortgage /financial mattersFeel more secure now with help and advice given. Will be back again in 2 years
Amazing service...always a very professional and quick service. Would definitely recommend:)
Clare Over
Clare Over
1702496481
I had a great experience with Frog Financial Management. Right from the start Greg was super reassuring and knowledgeable. As first time buyers we had a lot of questions and the whole team were always on hand to answer them. Greg, Danni and Charley were beyond helpful, always responsive and got everything that we needed sorted out, which added some peace of mind to what can be a scary process!
Alice B
Alice B
1702387954
Frog Financial have been sourcing property finance for me for several years. Always on hand to offer advice in the ever changing and complex world of mortgages! Charley can also source competitive property insurance.
Ben
Ben
1700132135
Craig,Ruth and the team have been fantastic.After a bad experience with another advisor, I contacted Frog.From the start Craig explained exactly how he would apply for the mortgage.My application was not straightforward as I had been Ltd for only one year.Craig, Ruth and the Frog team were extremely persistent at getting me the mortgage and always kept me updated and informed ,even calling out of hours for some reassurance.They are very professional and genuinely nice people, and great at what they do.I cannot recommend them highly enough.
D Farrow
D Farrow
1699305350
Excellent service, very proactive and quick to source our insurance policy renewal options from the market. Would highly recommend them. Charley has been providing great service to us.
Girish BP
Girish BP
1699089350
I’ve used Frog Financial services for nearly 3 years in a row for my home contents insurance. Charley is beyond professional and helpful and is always willing to to go above and beyond with any questions I may have. I would high recommend their services!
AK
AK
1698947412
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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