For example, if you are the sole director of any companies, to ensure your companies can continue to operate you need to put documents into place to nominate your successor director so your family can maintain control of these companies.
If you are a director in a multi-director company, again, you need to put documents into place so that your family ‘vote’ will ensure that the other directors can’t make decisions that are prejudiced against your family. Read on below for more of an explanation on how we can help you and why you will be better off with our recommendations.
VALUE TO YOU
Our work for you will ensure that if you are incapacitated or die, then instantly your successor director is legally allowed to take your place as a director of any companies you have nominated in the documents that we will create for you. This ensures the protection of control over the assets in all your companies and your trusts which have trustee companies.
To create a successor director solution for your companies, we will:
- Review the Constitutions of companies
- If required, arrange for updated Constitutions to be prepared that specifically allow for successor directors
- Prepare a Resolution of Directors to allow for the appointment of a successor director
- Arrange for an Enduring Power of Attorney (EPOA) to be prepared for you to tie in with the Resolution of Directors
Our price for this works comes out to be just a very small percentage of the value of the equity that will be protected in your companies.
Simply email back confirming that you are happy for us to start this work for you, and that you agree to this email. Please feel free to phone or email us if you have any further questions about this recommendation. We look forward to receiving your instructions – and to assisting you with a successor director solution to keep your control over your companies.
Part 2 of the Successor Director System blog series. Read Part 1 – Why You Should Update Your Old Company Constitution here.