Succession Trust
Succession Trust Trust Planning Kuala Lumpur, KL, Selangor, Malaysia. Service | Flora Trustee Berhad

Succession Trust or Business Continuation Trust is aimed at ensuring that a smooth transition and succession of business interests following the departure or demise of a business partner. Various problems might arise when a business partner departs or dies without having a written instruction of what are to be done. Thus, it is important for proprietors, partnerships or corporation enforce a requirement to have a written agreement willed into a trust deed in place to ensure that continuation of the existing business according to the collective agreement of the current owner(s).

Business Continuation Trust provides the solution:

  • To the deceased partner's share which will be sold to surviving partners at a fair market value.
  • To fund the purchase of the shares by the surviving partners through an insurance policy that will ensures the buy-sell to be carried out when the particular business partner dies or upon total and permanent disability
  • To provide a smooth transfer of partner's interest at death or disability with the implementation of a trust deed
  • To allows non-liquid stocks to be converted into liquid income, providing a fund for the benefit of the deceased's family members

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