A key person could be anyone crucial to your company's day-to-day running, such as a director, employee, or anyone whose skill, knowledge and experience affect revenue. Or, consider what responsibilities might a key person have.
Such policies are also put in place as shareholder protection policy which provides a payout to allow shareholders, partners or directors to purchase the shares of another shareholder should a company director pass away.
Consider if any loans or financial commitments depend on that person, whether their loss would impact sales, or whether their absence would impact future planning.
Ralph covers all areas of wealth management, including but not limited to retirement planning, pension transfers, wealth protection and inheritance tax planning.
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