May 19, 2020


Business protection is always something to think about. Many business owners are potentially vulnerable should death or serious illness cause a major change to their business situation. This unpalatable possibility is something that all too often gets overlooked, it’s uncomfortable considering your own morbidity or mortality.

The current Covid-19 pandemic, where every day, death rates from the disease are all over the media, causes people to place renewed priority to ensure the appropriate protection is in place to provide for both their business and their families.

Where death or illness occurs, major disruption can follow, causing potential management disputes and financial pressure on the business. If a shareholding director dies, the surviving directors may have to accept someone from the deceased‘s family, taking a decision making role in the business. It’s easy to see how that could become an intolerable situation. And where the deceased director’s earning power was instrumental in the success of the business, surviving the reduction in income and finding the money to recruit a suitable replacement – will take significant capital resources that many businesses won’t have available.

Many small, medium sized enterprises might not be able to survive these challenges, making the protection of the business an absolute priority. Solutions are readily available to enable directors to buy out the deceased director’s shares and provide funding to replace the lost expertise. Many directors assume that the cost of this protection will be prohibitive - but in many instances, it’s available for significantly less outlay than they assume.

At Albert Goodman, we have specialist expertise in this area and offer an initial discussion free of charge and obligation.

Whatever your future holds, finance need not be a worry. Our team will help you with every aspect of your personal financial planning. Adopting the same core values of our parent business, Albert Goodman Chartered Financial Planning has the highest of standards.

Andrew Hopper

Financial Planning


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