Becoming seriously ill

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Becoming seriously ill by Mind Map: Becoming seriously ill

1. [Business owner](https://library.croneri.co.uk/po-heading-id_wiypqq4uEUW-uGXNpFDvXQ)

1.1. Sell

1.1.1. Entrepreneurs' relief for CGT

1.2. Retain

1.2.1. Making a lifetime gift

1.2.1.1. Hold over relief for CGT

1.2.1.2. Entrepreneurs' relief for CGT

1.2.1.3. Business property relief for IHT

1.2.1.4. Gift into trust or direct

1.2.1.4.1. Type of trust

1.2.2. Keep within the estate

1.2.2.1. Business property relief for IHT

1.2.2.2. Utilisation of nil rate band

1.2.2.3. Will planning

1.2.2.3.1. Pass directly or into trust

1.3. Collapse

1.3.1. Entrepreneurs' relief for CGT

1.3.1.1. Appointment of insolvency practitioner to wind up

1.3.2. Income distribution

2. [Pension](https://library.croneri.co.uk/po-heading-id_ciCEbA66_EO320f9O0xu-Q)

2.1. Ill health lump sum

2.1.1. Age > 75

2.1.2. Age < 75

2.1.2.1. Tax free

2.2. Widows pension considerations

3. Employment

3.1. [Share schemes](https://library.croneri.co.uk/po-heading-id_LKJdTcoSVEGKzFKqHKgsag)

3.1.1. SAYE/CSOP/EMI

3.1.1.1. Ill health protections

3.1.2. Unapproved

3.2. Employment

3.2.1. [Payment by employer](https://library.croneri.co.uk/po-heading-id_Wt6EtyDhs0-L-uGEAsH4mA)

3.2.1.1. Death

3.2.1.2. Following injury or disability

4. [Estate planning](https://library.croneri.co.uk/po-heading-id_rJbTtQWrpkaZyh3F449ewg)

4.1. Identify potential beneficiaries

4.1.1. Minors

4.1.1.1. Guardians

4.1.1.2. Vulnerable persons trust

4.2. Identify assets and liabilities

4.2.1. Business assets

4.2.1.1. Business continuation plan

4.2.1.1.1. Use of trusts

4.2.2. Investments

4.2.3. Main home

4.2.3.1. remaining spouse

4.2.3.2. Minor children

4.2.3.2.1. vulnerable persons trust

4.3. Lifetime needs

4.3.1. Care support requirements

4.3.2. Eligibility for benefits

4.3.3. Capital requirements

4.4. Lifetime planning

4.4.1. Vulnerable persons trust for person seriously ill

4.4.1.1. Vulnerable persons trusts for surviving children

5. [Tax favoured investments](https://library.croneri.co.uk/po-heading-id_44lDame9SEmIkNy9k2P7XA)

5.1. EIS/SEIS/VCT

5.1.1. ill health protections