In the fast moving world of owner managed businesses, it is easy to focus on growth, customers and day to day decisions. But what would happen to the company – and the families who depend on it – if a key shareholder were suddenly unable to work?

As featured in the July issue of UK Private Company Director, Samantha Boyd of Rathbones outlines practical steps to protect both the business and its owners against the financial impact of serious illness or death.

She emphasises that even straightforward actions – updating wills, reviewing the shareholders’ agreement, putting cross option arrangements and key person cover in place – can make a real difference if the worst happens. A clear succession plan also heads off ownership disputes, keeps operations running and protects value for the next generation.

For founders and business owners, taking these steps now helps ensure the legacy you have built remains secure, whatever comes next.

Read the full article here.