Having a Will in place is essential if you want the final say in what happens to your business and other assets after you die. If you die without a Will, everything you own – including business and non-business assets – will be distributed under
There has been much focus on Lasting Power of Attorney’s (LPAs) recently, especially as they are important for those who have lost capacity and require people they trust to manage their affairs. There has been less talk about LPAs for businesses which can provide protection
When the owner of a business dies, probate can be lengthy and complicated as their business assets have to be valued and transferred. Whether business assets are sold or transferred depends on the way in which the business was owned and operated as well as
When you lose someone you love it is always a difficult time. Having to deal with the paperwork involved in administering an estate after a death – and when you’re grieving – can be extremely upsetting. That’s why at legalmatters we will always try to
There are certain restrictions as to who can make a Will, including age and capacity. In England and Wales you generally need to be 18 before you can make a Will. It is always advisable to make a Will once you reach that age, even
When the owner of a business dies, administering the estate can be a complex affair. A business forms part of a deceased’s estate and can be left under the terms of their will. However probate is far more difficult to administer when a business which
When you own a business, not using a professional lawyer to draw up your Will is almost always a mistake. Failing to cover all your assets and not considering issues around inheritance tax, executors and trusts are two common mistakes made with a DIY Will.