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lola86
Guest
I have not been on this website before but would appreciate any help your users could give me.
My uncle has 3 companies (1 Limited, 1 Holdings, the other is ...& Co). He is a 66 year old Bachelor and has been working on his property development company all his life. He has 7 Brothers and Sisters still alive and several Nieces and Nephews.
He now has some valuable assets. Such as a building with tenants worth 6million (in 2006 I know it will be considerably less now in 2012). The annual rental income from this building is approximately 400,000 per annum. He has another building that is a holdings company (a large warehouse).
He has recently been thinking about how he will distribute his company after his death or when he is no longer able to run the business. At the moment he is fit and well and will be involved in the company for as long as possible.
I have been working in the company part time for the last 5 years (I am just about to qualify as a nurse in June) and he feels that he would be happy to give me the business, however he would like to know how best to go about this. I am reluctantly agreeing to this transfer however would be willing to let somebody else take it if it was financially better. He is open to all opinions and willing to listen to any ideas.
I would greatly appreciate any advise!
My uncle has 3 companies (1 Limited, 1 Holdings, the other is ...& Co). He is a 66 year old Bachelor and has been working on his property development company all his life. He has 7 Brothers and Sisters still alive and several Nieces and Nephews.
He now has some valuable assets. Such as a building with tenants worth 6million (in 2006 I know it will be considerably less now in 2012). The annual rental income from this building is approximately 400,000 per annum. He has another building that is a holdings company (a large warehouse).
He has recently been thinking about how he will distribute his company after his death or when he is no longer able to run the business. At the moment he is fit and well and will be involved in the company for as long as possible.
I have been working in the company part time for the last 5 years (I am just about to qualify as a nurse in June) and he feels that he would be happy to give me the business, however he would like to know how best to go about this. I am reluctantly agreeing to this transfer however would be willing to let somebody else take it if it was financially better. He is open to all opinions and willing to listen to any ideas.
I would greatly appreciate any advise!