business succession
In respect of a typical, non-conforming business assurance policy, the premiums are not tax deductible. However, the proceeds paid from the policy will then not be taxed and the buyer will have access to the full amount required to purchase
In terms of the Estate Duty Act, the proceeds of all domestic policies paid to a deceased estate will be considered deemed property and therefore subject to estate duty. However, legislation provides several exceptions to this general rule, including the
It is up to the shareholders to decide what type of events would trigger a sale of shares. Generally speaking, buy & sell cover is taken out in the event of the death or disability of a shareholder. However, depending
It’s in times like these that we realise the true value of having a second or passive income. Having an alternate source of income, regardless of how small, can help to mitigate the risk of income loss or reduction.
f a business owner dies or becomes permanently disabled, he would naturally want to ensure that the remaining shareholders have enough capital to buy his shares from his deceased estate. Depending on the value of the business, the surviving shareholders
