- \n
- If a co-owner dies today, can you work with his family to run the business?<\/li>\n
- Will the co-owner\u2019s family members know how to run the business with you?<\/li>\n
- Can they work well with you?<\/li>\n
- Would your beneficiaries be able to get a fair price?<\/li>\n
- Do you have the funds to buy out the co-owner\u2019s shares\/interests from the family members when there is no pre-agreed price in a written agreement?<\/li>\n
- Can the shares\/interests you are purchasing be transferred quickly to you?<\/li>\n<\/ul>\n
PROBLEMS WITHOUT BUSINESS PROTECTION PLAN<\/h3>\n
Often these are:-<\/strong><\/p>\n
- \n
- A new partnership is created due to the inheritance of the shares\/interest by inexperienced heirs. Chances are this new partnership may fail.<\/li>\n
- There is no pre-agreed price for any sale to take place when the heirs decide to sell to the other co-owners. As a result, it may take years to settle a transaction price.<\/li>\n
- Some of the unqualified heirs may insist on being directors of the company and be active in running the business. This may lead to serious disruptions and disputes within management.<\/li>\n
- It is possible that the co-owners may decide to abandon the business and start their own due to disputes with the heirs.<\/li>\n
- Loss of profits and uncertainty about the business future success.<\/li>\n<\/ul>\n
After all your hard work in building your business, you need to avoid such problems.<\/span><\/p>\n
The Solution \u2013 Business Value Protection Trust (UBiz)<\/h5>\n
Our UBiz ensures a smooth transition of the business to the other co-owner(s) and the value of your share of the business is protected against an event such as:-<\/p>\n
\n\n
\n Death<\/td>\n Ill health<\/td>\n<\/tr>\n \n Bankruptcy<\/td>\n Loss of professional license<\/td>\n<\/tr>\n \n Incapacity<\/td>\n Retirement<\/td>\n<\/tr>\n \n Divorce<\/td>\n Deadlock between co-owners<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Advantages of UBIZ:-<\/h5>\n
- \n
- Guarantees the sale of shares\/interest at a full and fair value that was agreed by co-owners. Prevents inexperienced and unqualified heirs from being involved in the business or the selling of the deceased\u2019s shares to outsiders.<\/li>\n
- Smooth transfer of ownership to the co-owners is ensured by the Trustee.<\/li>\n
- Using life insurance, the purchase of the shares\/interest becomes very affordable, minimizing the need to use your savings for the purchase.<\/li>\n
- Rockwills Trustee acts as the Trustee for UBiz protecting the interests of your beneficiaries and that of the co-owners.<\/li>\n
- Shares\/interests are easily converted<\/li>\n<\/ul>\n
Our UBiz consists of:-<\/h5>\n
- \n
- Buy-Sell or Cross Option Agreement: covering the terms of the sale and purchase including the agreed value or formula, events triggering a sale, funding and mode of payment.<\/li>\n
- Power of Attorney: authorizing us, Rockwills Trustee, to transfer the shares\/interests to the other co-owner(s) upon the occurrence of the agreed events that trigger a sale.<\/li>\n
- Trust Deed by the co-owners: instructions to Rockwills Trustee regarding the periodical distribution of the sale proceeds to prevent these being misspent by the beneficiaries.<\/li>\n
- Life insurance policy: as the main funding mechanism to purchase the shares\/interest of the outgoing co-owner.<\/li>\n<\/ul>\n
How to set-up?<\/h5>\n
\n\t\t\t\n\t\t\t\t![\"rockwills-how-to-setup-ubiz\"](\"https:\/\/rockwillsonline.com.my\/rockwills-articles\/wp-content\/uploads\/2019\/08\/howtosetup-300x156.jpg\")
<\/a>\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\tUBIZ-How To Set Up?\n\t\t\t\t<\/figcaption><\/figure> \n\t\t\t\n\t\t\t\t![\"rockwills-ubiz\"](\"https:\/\/rockwillsonline.com.my\/rockwills-articles\/wp-content\/uploads\/2019\/08\/howtosetup2-300x171.jpg\")
<\/a>\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\tUBIZ – When an event occurs friggering a sale?\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n\n \n\n
\n \u00a0 ![\"\"](\"http:\/\/rockwillsonline.com.my\/rockwills-articles\/wp-content\/uploads\/2017\/07\/logo-rockwills.jpg\")
<\/td>\n\n For more information, please contact:-<\/p>\n
Chong Mok Yong RFC(USA), AEPP<\/strong><\/p>\n
Rockwills Services Centre Kuala Lumpur<\/p>\n
03-7782 1993 \/ 012 303 9383<\/p>\n
W: www.rockwillsonline.com.my<\/a><\/p>\n
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