There are various areas for consideration for family business owners hoping to write a will one expert has highlighted.
One of the best ways forward is to discuss the issues with the family, suggested legal adviser Sue Medder in an article with Real Business, as this will help to iron out any difficulties.
It is also important to listen to what children have to say, with people advised not to be afraid of making amendments to their will if they feel it necessary.
Considering the needs of those who are not in the family but are involved in the business is likewise essential, Ms Medder pointed out, as conflict may otherwise become a problem at a later stage.
DIY Wills are not always appropriate for those who own a business as the business needs to be incorporated in the Will and can therefore make the process more complex.
Our fixed price Bespoke Service - provided by leading UK lawyers Irwin Mitchell - can help you as you may need a solicitor to write a bespoke Will for you.
Lawpack provides a range of Will services - all at a fixed price - so you don't have to worry about soaring legal fees.
Find out which one of our Will services suits your circumstances by answering 10 simple questions in our 'Which Will is Right for You' Questionnaire.
Direct Line recently found that 96 per cent of people are considering upgrading their possessions, which makes it even more imperative for them to write a will.
Published on: February 21, 2011