Wills for Business Owners
If you own a business it is essential to consider practically how the business would be affected by your death.
- Could it continue to operate without you?
- Who would decide if the business needs to be sold?
- Who would take on the day-to-day decisions?
- Can your business or interest be bequeathed to anyone of your choice?
- Should you give your executors powers to carry on running the business?
- Would it be beneficial to appoint executors specifically to deal with your business whilst having personal executors to deal with the remaining parts of your estate? Such an approach might well ensure that the value of the business can be maintained while the estate is being administered.
We can help you to think through questions such as these and put in place plans that will suit your individual needs. If you would like to discuss your Will, please contact Michael or Harriet Thorneloe.