• Protect your business from the death of a partner
• Avoid loss of income
• Minimise disruption of the business

In a partnership, partners work together to pool capital and talents to create a business, but each partner's share of the partnership remains their own.

When a partner dies, the other partners have no automatic share or claim on their business assets. The remaining partners will want to keep the business running while dependants of the deceased partner will want to receive fair payment.

Partnership assurance allows partners to make financial provisions for the death of a partner. This means that:

• A fair price is paid for the share of the company
• Control of the business stays with the partners
• Quick payment to the relatives of the deceased
• Avoid costly borrowing or lending
• Allows the business to continue to trade
• Maintains confidence among suppliers and customers
• Potential to invite new partners into the business

Trusts can be set-up to minimise any inheritance tax payments and ensure a swift payout.

At Forum Wealth Management, we can advise on which will be the most suitable policy for you and your fellow partners.