As a business owner you will be aware of the many pitfalls and obstacles you need to overcome to make your business successful. No doubt much financial planning and careful management goes into making a success of your enterprise. Sadly what is often overlooked is the underpinning of all the hard work by writing a properly worded Will.
Such a Will can enable you to make provision to maximise tax relief available to business property owners and even carry that relief to a later generation. You can enable persons nominated by you to carry on the business, provide an income from the business to your spouse/partner for life and then pass on the business to children, grandchildren or other nominated beneficiaries in a tax efficient manner.
Many business owners rely on the company as a pension.
What happens if the business owner doesn’t survive to retirement?
- Is there any relief from Inheritance Tax for my business interests?
- Can I extend that relief beyond my life and the life of my spouse/partner?
- Can my business be carried on to provide an income for my spouse/ partner during their lifetime?
- Can my Executors carry on my business until my children/grandchildren are old enough to take it over?
- The answer to all these questions is YES, PROVIDED you have put a properly worded Will into place.
Our Legal Department have more than 30 years’ experience in dealing with Wills, Power of Attorneys, Trusts and Estate Administration for business owners and their families.
We visit our clients in their home or place of business, if required, in order to discuss their needs and to take their instructions. They do not need to lose time from work or to travel anywhere to get a Will made.
Writing a Will for a business owner is a job for an experienced specialist. We can offer you that experience and that speciality.
For more information, contact us, or ring 0845 388 3454.
It is never too early but often, sadly, too late to make a Will.
DON’T RISK IT!
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