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Good business owners understand the need for good forward planning. Whether that is making sure that things are in place to allow for the unexpected bill coming in, being ready to accommodate a particularly demanding client’s needs, or the bigger picture plans relating to the growth and future of the business. Part of this forward planning should also include considerations surrounding your personal legal circumstances – in particular, making a Will.
Why should I make a Will?
Firstly, there are loads of reasons why anyone should make a Will.
Business owners, in particular should think about making Wills. There are certain inheritance tax allowances and reliefs that apply to many (but not all) business owners – taking this into account when making your Will can make a big difference to how much tax your family may need to pay on your death. This applies whether you are just starting up your business, have been going for some time, or are ready to wind down.
When setting up or reviewing their Will, a shrewd business owner should be considering the following with their business specifically in mind:
What do I do now?
To book an appointment with one of Poole Alcock’s specialist solicitors – contact us now on: 0800 470 0339. Or fill in our online contact form.
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