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Is control of your business at risk?

Did you know that 60 per cent of business owners said they had no protection in place to cover the cost of buying shares should a business owner die?*

Ask yourself:

  • If a co-owner died or suffered a critical illness, is the control of your business under threat?
  • If the worst happened, what would your family receive?
  • If it was you who died, would your family receive a fair value for your share of the business?

Here’s some more questions to consider:

  • What is your share of the business worth?
  • How much of this amount would you want to pass to your family if you died tomorrow?
  • Would you expect to maintain control of your business on the death or serious illness of a co-owner?
  • What would you want to happen?
  • Have you written it down?

If you’re unsure of any of the answers to the above questions, your business could be at risk.

You may need a business will to ensure your wishes are carried out. The requirement of most business owners is to maintain control of the business following the death or serious illness of a co-owner. The requirement of the family is generally to receive a fair cash value.

Find out more about the benefits of a business will for your business

*Legal & General research between November 2012 and February 2013.


Virgin simplifies online affordability calculator

Virgin Money has simplified its online affordability calculator to smooth out the application process. Previously, when a broker completed an online affordability assessment using the calculator, they were presented with up to three affordability outcomes based on high, medium or low credit scores. But now the calculator will only return one outcome, which the lender […]


Analysis: BDM relationship clearly adds value

As the market continues to be buoyant in the broker space, it is interesting to see how the relationship with lenders’ business development managers is playing a more important role. The market is constantly changing in terms of criteria and rates and, as distributors, we should be doing everything we can to get these messages […]


Hope Capital extends lending into Scotland

Bridging lender Hope Capital has begun lending in Scotland. It has an initial tranche of £10m to lend although it plans to dedicate more funding in the future. Hope will lend on commercial and residential property with non-regulated loans of up to £1.5m for six months or less. Hope Capital chief executive Jonathan Sealey says: […]


8,000 jobs to go as HSBC announces it will rename UK retail arm

HSBC plans to change the name of its ring-fenced UK retail banking arm as part of an overhaul that will see 8,000 jobs slashed. The Telegraph reports the bank, which employs 26,000 staff in the UK, plans to change the name of its branch network once it has been legally split from its global operations. […]

Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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