If you are a business owner, it is essential that you make a valid Will to protect this asset.
You may be a sole trader or a shareholder in a larger enterprise, but if you do not make provisions for new ownership in your Will, your firm could be sold off or mismanaged in the event of your death. Using Will writing solicitors in North Wales is one way of avoiding this issue.
If you are a sole trader, you will need a Will so your business assets are properly dealt with. These could include vehicles, technology or cash. You may choose to leave instructions on how the business operates so a particular beneficiary could continue trading and your heritage is maintained, for example.
If you are a partner in a business, it is important for you to understand the partnership agreement and know what will happen to your stake in the company when you die. Often, other partners will have the option of buying your part to maintain and expand their ownership or, alternatively, your executor may have to sell your part to cover any debts. It is vital for you to know these obligations, and Will solicitors in North Wales can advise you and examine the articles of association and other documents. A business can be a lasting legacy and using legal advisors can ensure this is the case.
Speak to us today at Bennett Smith Solicitors and instruct us to book an appointment to discuss your Will.