The death of a Business Owner should not necessarily be the death of the Business.
A properly drawn Will containing a Business Trust can clearly define how the Business continues and who will own/operate it. A family should not lose this very valuable asset because of the Owner’s death.
Another very important document is a Power of Attorney. The Owner may not die but become seriously ill or incapable of managing the Business. To continue operating the finances of the Business someone needs appropriate authority to be able to undertake the responsibility. A Lasting Power of Attorney made before any crisis occurs will ensure continuation at a crucial period of uncertainty.
Prudent Business Owners plan for emergencies. A Will and a Lasting Power of Attorney are planning tools for a successful future.