For Business Owners

It is important for business owners to consider the various ways in which their family, business partners and shareholders could be affected in the event of his or her death or mental incapacity.


A suitable Will and side letter can be used to deal with business interests in a flexible and tax efficient manner following death.  In the event of a lifetime loss of ability to run a business, for example through accident or disease, a business specific lasting power of attorney and associated written guidance will prove important.

We find that business owners are often easily able to say who they would like to benefit from their business after their death, but have not given much, if any, detailed thought to the arrangements in place for business continuity and the structure in which finances from the business would be controlled and used to benefit his or her beneficiaries.   Such matters are of considerable importance when bearing in mind the impact that personal relationships can have at a time of death, in connection with the devolution of control and value in a solid profit-making business.

Any Will or power of attorney that you create would ideally dovetail with the arrangements you have agreed with your business partners, for example as set out in your company’s articles of association, shareholders’ agreement or your limited liability partnership’s members’ agreement. 

While you cannot foretell your time of death or whether you will live your life free from accident or disease, what is certain is that you can prepare responsibly for the future by making both a Will dealing with your business interests and a business specific lasting power of attorney.

To discuss how we can help you further, please contact us direct on 01453 758999 or email us:

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