Without a valid Will the deceased’s share would be subject to the Laws of Intestacy and the person who inherits may not be the person you intended. Would you or your business partner be content to run your business with their surviving spouse or their beneficiaries? This could have a major impact on the running of the business or the value of the business may now go down following the death of such a key person.
Even if you have a Will, is it up to date with the latest legislation, Company Law, Inheritance Tax and Capital Gains Tax considerations. A straightforward Will Check can find out, and give you recommendations, and peace of mind.
Rugby Wills (in association with Countrywide Tax and Trust Corporation Ltd.) are able to assist in all areas regarding the planning surrounding Business Succession. The primary recommendation is not to wait, get something in place to prevent your business interests not being put in the hands of those who care about it. If you're not 100% certain your existing Will is upto the job, get us to check it.