Will/Shareholders' Agreement and Cross Option Agreement

Trusts Discussion
1

How do others draft a will whereby the testator has an interest in a Limited Company (Director) and has set up a Shareholders’ Agreement and Cross Option Agreement with associated insurance to enable funds to be raised to allow the surviving Director to purchase the shares of the deceased.

Does anybody have any precedents as LexisNexis isn’t assisting!

Many thanks.

Sarah Collier
Hethertons

2

My recollection is the Shareholders / Cross Option agreement are life policies written in trust, outside of the estate and do not figure in the will. As a safety net in case the policies lapse or other event a normal clause as to business assets should be in the will.

John Cartlidge
Campion Solicitors