Are you a business owner?
Have you thought about what would happen to your business if you weren’t around through accident, illness or mental incapacity? Who would step into your shoes to make strategic and daily decisions in your business?
Unfortunately, you can’t assume a family member or business colleague will gain authority to make these decisions on your behalf. And, although it may not be a pleasant thought, have you considered what will happen to the business when you die?
What about you and your family, how financially secure would you and they be? Who would be able to manage your investments and access your bank accounts to ensure the mortgage, school fees and other essential living and care costs were met?
At Napthens, we are passionate about looking after our clients, their families and their businesses, so we have created a service to help in these circumstances, the Directors Protection Scheme.
This scheme will ensure you have the right protections in place including, a business and a personal lasting power of attorney (where an individual nominates another person to deal with their financial affairs should they lose mental capacity or be unable to make decisions for themselves), a personal Will, a company Will and also a detailed review of your life insurance, death in service benefits and private pensions.
We will take a holistic approach and our experienced estate planning lawyers will work closely with wealth management professionals to identify all the appropriate solutions for you, your family and your business.
We would offer you a free initial meeting to review your circumstances and agree your requirements, including a detailed report setting out our advice and proposals. Together, we would then agree the scope of any work required and a quotation for a fixed cost package. If appropriate, we can arrange a follow up meeting with an experienced financial adviser.
To find out more about Napthens’ Directors Protection Scheme or to arrange your free initial appointment, contact our estate planning team today who will be happy to assist.
Laura Jackson is a solicitor in the wills and estate planning team at regional law firm, Napthens