Do you own a business?

Yes, then you have additional responsibilities that non-business-owners do not have. Responsibilities to your customers, your staff and your family. Furthermore, if you were to lose mental capacity, then the business could face even more complications. This is called Business Secession Planning.

There is no such thing as a “Business Will”. A will is always created for a person, not a business. However, as a business owner, your Will should cater for all of the responsibilities that you have, should the worst happen.

Things to consider, as a business owner

  • Who would take over the running of your business?
  • Who would manage your on-line banking?
  • Who would write cheques?
  • Who would contact your clients?
  • Who would be able to hire and fire staff?
  • Who would log in to your website or other on-line facilities in order to continue the smooth operation of the company?

There are clauses that would need to be included in your Will and Lasting Powers of Attorney in order to bring solutions to these and other important matters. What’s more, the whole subject of planning ahead for that eventuality needs careful guidance from a person that can stand back from the detail and take an objective look at what is needed.

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