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Til Death Do Us Part...

26th Oct 2009
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I came across an interesting scenario today.  Sole director and shareholder wanted to give shares to his son and daughter so that in the event of his unfortunate death "the revenue could pass on".  A very forward thinking client and I do wish all clients could think like this and see their company structure as a moveable feast instead of set in stone.  I must add at this point I am really not a fan of 50/50 shareholdings either.  All well and good when times are good but what about the unthinkable and shareholders fall out!  Perish the thought!

However, I did have to very politely explain to said client that there was no such think as "revenue passing on" especially in a company with no director to declare interim dividends or indeed run the company!  Fortunately we seem to have come up with a solution to appoint the children as directors in the case of his death.  Let's see if he accepts...

  

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