Business WillsWhat is a Business Will and why would I want to make one? Suppose you have a successful business partnership and you presume that after your death, your partner will continue to run it. Maybe you'd like your children to benefit from any profits and to be left your shares in the business. If you don't put this in writing, the chances are it won't happen.
Without a Business Will, any shares in the business will automatically be left to your spouse or next of kin. They will then be able to sell your shares or even take over the business, dictating what could happen to it in the future. A Business Will sets out your wishes... It divides your assets in exactly the way you would like. It can protect your business partner against potential takeovers and allow them to buy your shares in the event of your death. An insurance policy might pay out a lump sum if a Director is injured or dies-but it won't ensure that the business continues to function as you would like it to. Only a legally binding Business Will can do that. Talk to Wills in Warwickshire for advice and guidance on how to protect your business. |