Benefit Trust Review

Where a limited company or a partnership has made plans for the continuity of the business in the event of the loss of a key employee or indeed the loss of a director/partner and their shareholding, it is as important to review the way in which these proceeds will be paid to the nominated beneficiaries.

The use of the correct trust deed for life assurance or the correct share option agreement as part of your Memorandum of Association or Partnership Agreement will ensure that the very reason that the policy was put in place is still effective.

There are many alternatives to chose from at the moment all purporting to do the same thing but using the wrong wording can mean the loss of valuable Business Property Relief or lead to an unexpected Corporation Tax bill.

Indeed you might find that the incorrect use of a trust document will result in making your situation worse and not better!

At Lansdown Place we have a comprehensive understanding of the differences between an Automatic Accrual Agreement and a Double Option Agreement and their respective impact upon your intentions. We understand the difference between an Interest in Possession Trust and Discretionary Trust and so you can rest assured that when we put these plans in place that there will be no unexpected complications.

We will be happy to discuss your situation with you at a time that is convenient to all parties concerned and to provide the peace of mind of knowing that in the event of a disaster of this nature, where you can never turn back the clock, at least the respective families of those concerned receive the support to get things back on an even financial keel as soon as possible.