In this module, we learn about business entities in Singapore and that companies are the most commonly used structure for SMEs. Key provisions of a standard company constitution are examined to understand how shares are dealt with in such events as death, sale and incapacity. Shareholder and director duties and powers are compared. How a company is run is explored and these include ensuring financial statements are generated, audits are performed, general meetings are held and the mandatory ACRA requirements are fulfilled. Trainees learn to interpret the parts of the financial statements of a typical SME that reveal financial risks from loans and liabilities. Such risks are often absorbed by directors and shareholders in the form of personal guarantees. We will look at some of the key terms found in personal guarantees and look at the limited ways in which how guarantors can protect themselves. Finally, we learn about how the business can be protected with keyperson insurance, how the amount of cover can be estimated and under what conditions can insurance premiums be tax deductible. Trainees will gain practical knowledge from actual case studies to guide their clients in their estate planning. The trainers are not only accomplished estate planning practitioners in their specialised fields but are also excellent at simplifying and communicating technical content.