Is this you?
You co-own a company and want the option to buy out a partner's share if they die.
You want a departing owner's family to receive fair value without having to run the business.
You have a shareholder or partnership agreement but no funding behind it.
You are bringing in a new owner and want the protection arrangements set up correctly.
How Verion helps
We help each owner take out cover sized to the value of their share, arranged through providers on our panel.
We explain how a cross-option or buy-and-sell agreement lets the arrangement work as intended.
We coordinate the cover with the legal agreement so the two are consistent.
We set out the general tax and structuring points and recommend confirmation with your accountant and solicitor.
The process
Value
We agree an approach to valuing each owner's share so the cover is set correctly.
Structure
We align the cover with a cross-option or similar agreement drafted by your solicitor.
Recommend
A clear recommendation covering each owner, with the cost for each.
Implement
We put the cover in place and review it as ownership or valuation changes.
Things worth knowing
The cover and the legal agreement must match. One without the other rarely delivers the intended result.
Share values change, so both the cover and the agreement should be reviewed regularly.
The tax and legal treatment depends on the structure. Confirm it with your accountant and solicitor.
This protects ownership and control. Key Person cover protects the business against lost revenue, which is a separate need.