When a sole trader dies a number of financial and contractual obligations still need to be fulfilled.

Without succession planning, these will usually fall to a spouse or the next-of-kin, and can include:

Finance : outstanding overdrafts and finance will need to be transferred (or paid off) and the new owner will be expected to brief investors on the ability to meet existing commitments.

Clients : ongoing contracts will need to be assessed; the family or estate may need to recruit a sub-contractor to fulfil existing commitments, or employ additional staff. Alternatively, penalties could be imposed for the non-delivery of goods or services.

Leased premises : the landlord will need to be informed of the sole trader’s death and a new lease may be required. If the business is wound down, significant penalties might need to be paid if the premises are no longer needed.

Send Us an enquiry

Why business protection is essential for sole traders

Instant Enquiry

Welcome to Business Protection Specialist

Business Protection Specialist offers friendly, reliable and efficient services for all your protection and insurance needs.

A variety of our policies offer PEACE OF MIND for yourselves and your business.

Many of our products are appropriate for small and medium limited businesses who can benefit from our new Relevant Life Cover which providing a tax efficient savings on the premiums.

Everyone has different financial requirements and our company focuses on our customers as people with individual circumstances and we try really hard to appreciate and understand your personal needs.

Whether you are looking to protect your business from financial stresses, we would like to offer the solutions that fit your circumstances and provide you with peace of mind knowing that all your protection needs are met.

Why hesitate, call us for free, no obligation quotes and an informal chat. We are here to help you. Call us today and let us protect you!
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E-Mail: Info@marshallfinancialsolutions.co.uk
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This website is only directed at persons within the UK.
Anthony Marshall trading As Marshall Financial Solutions is an appointed representative of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority

Welcome to Business Protection Specialist

Business Protection Specialist offers friendly, reliable and efficient services for all your protection and insurance needs.

A variety of our policies offer PEACE OF MIND for yourselves and your business.

Many of our products are appropriate for small and medium limited businesses who can benefit from our new Relevant Life Cover which providing a tax efficient savings on the premiums.

Everyone has different financial requirements and our company focuses on our customers as people with individual circumstances and we try really hard to appreciate and understand your personal needs.

Whether you are looking to protect your business from financial stresses, we would like to offer the solutions that fit your circumstances and provide you with peace of mind knowing that all your protection needs are met.

Why hesitate, call us for free, no obligation quotes and an informal chat. We are here to help you. Call us today and let us protect you!

Why business protection is essential for sole traders

When a sole trader dies a number of financial and contractual obligations still need to be fulfilled.

Without succession planning, these will usually fall to a spouse or the next-of-kin, and can include:

Finance : outstanding overdrafts and finance will need to be transferred (or paid off) and the new owner will be expected to brief investors on the ability to meet existing commitments.

Clients : ongoing contracts will need to be assessed; the family or estate may need to recruit a sub-contractor to fulfil existing commitments, or employ additional staff. Alternatively, penalties could be imposed for the non-delivery of goods or services.

Leased premises : the landlord will need to be informed of the sole trader’s death and a new lease may be required. If the business is wound down, significant penalties might need to be paid if the premises are no longer needed.

Instant Enquiry
Send Us an enquiry
07872 898 900
01264 338 020
Protecting you - Saving you Time and Money