Business Wills

Prudent business people have a Will to ensure that their personal assets are distributed after their death in accordance with their wishes. If you intend to pass your business down through generations it is never too early to start succession planning, action today can preserve the wealth and success you have worked for all your life. Planning on how and when you pass on your personal and business assets should be undertaken as soon as possible to ensure a smooth transfer of ownership. It also enables taxes on transfer are kept to a minimum.

Placing the business into a discretionary trust allows the trustees to take into account the family and business circumstances at the time of death and also any change in the tax rules. The trustees will be able to ensure that matters are structured so as to maximise inheritance tax efficiency and retain assets in the trust for a period of time if necessary. The choice of trustees is of great importance obviously those who have experience in running businesses are a sensible choice.

We can assist you making informed choices in balancing the need to provide for your family and protecting the business.