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I run a business. Can I use my will to protect my business?
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Every sole trader should consider putting terms into their will that allows your business to continue trading so the value of the business is realised - rather than your death causing a ‘forced immediate sale’.
If you are in partnership with other people - and there is no partnership agreement in place - your death may bring the partnership to an end. It could also result in those benefiting from your Will having to pay inheritance tax that you could avoid. a simple partnership agreement can avoid this scenario.
And we can advise on whether your business interests qualify for business property relief - again that will save inheritance tax. It may be best to place your business interests in to a legal vehicle known as a trust.
Frequently asked questions
- Do I really need a will?
- Do I really need to use a firm of solicitors to prepare my will?
- I run a business. Can I use my will to protect my business?
- Is there anything I should prepare before contacting you?
- What do the words testator and testatrix mean?
- What does beneficiary mean?
- What does intestacy and intestate mean?
- What does my assets mean?
- What does my estate mean?
- What does the cost of the fixed fee will drafting service cover at QualitySolicitors?
- What exactly happens if I ask you about preparing my will?
- What happens if I die without a will?
- What types of will can I get at QualitySolicitors?
Your local legal experts
Why QualitySolicitors?
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This is why, in the first instance, most people looking for legal help in relation to a 'Home And Property' call QualitySolicitors for a Free Initial Assessment over the phone before requesting our Ask the Legal Expert service; which is an introductory 45-minute face-to-face consultation for £99.
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