More than half (51%) of Britain's small business owners have left no instructions in their will or made any special arrangements regarding shares according to Legal & General's 'State of the Nation's SMEs' report.
Just over a quarter (26%) of shareholders said they would buy the shares left following the death of a fellow shareholder, with over half (51%) having to rely on their personal wealth to do this. Fewer than two in every five people (38%) had considered how a life policy could help. One in five (21%) said that they thought that their beneficiaries would inherit and become active in the business. A further 16% would simply look at selling their shares to a third party. Nearly four in ten (36%) of SMEs with a worth of over £5m also had no share protection insurance, which could allow the...
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