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?
Could it be sold so that your family benefit from the sale proceeds? If so who will run the business in the time between your death and its sale?
Business people should give consideration to including powers in their will for their Executors to run their business. Alternatively you can appoint separate Executors specifically to deal with your business whilst your personal executors deal with the rest of your estate. Ultimately this may help to ensure that the value of the business is maintained whilst the estate is being administered.
For more information about Wills for Business owners contact us on 01928 735333.