AS a business owner it is imperative that you have a will.
Without a will, your estate will be distributed under the statutory intestacy rules, which also dictates who will be responsible for administering your estate. It is important to have a will in place to ensure that your wishes are carried out, but particularly so if you own a business or have business interests. A properly drawn will ensures that the right people manage your business after your death and that certain decisions can be taken immediately, without waiting for the Grant of Probate. It should also be drafted so that your business or business assets attract all the inheritance tax exemptions which are available.
If you would like some further advice then please contact Sue Squires, an associate solicitor within the Private Client Team, based at the firm’s Victoria House offices, in Winchester Street, on 01256 305519 or by emailing sue.squires@lambbrooks.com.
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