Happy New Year everyone!

Sorry to put a bit of a downer on things but, I'm doing some research for a client.

I'm looking into death instructions/continuity planning for a very small limited company. Would this be something for a solicitor or, would anyone on here be willing to share what plans they have for their business should the worst happen? 

It's something no one likes to contemplate but, doing this research has certainly made me think! 

 

 

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  • Hello J-Lowe 

    I was speaking with a friend, a solicitor, this morning Power of Attorney is a must-have for most, almost as important as an up to date Will!  A will is all I need for my business income to be paid in perpetuity to my son (I must make sure his will is up to date, for who gets that income when his turn comes). For businesses that need running, staff, decisions made etc. POA, business continuity planning are best discussed ahead of the necessity and a good accountant will have useful input especially planning for a current owner to pass the business on. 

    Happy to recommend someone if it'd be helpful. 

    • Thanks Geoff! I think my client already has a lot of the right people in place (accountant, solicitor etc), they just hadn't really thought about the issue before. Neither had I to be honest so, it's making me think about things too! 

  • Hi Jeanette

    I would certainly say this is something for a solicitor to advise on. Not something I specialise in myself but could have a colleague in the executry department contact you/your contact to advise on options. 

    Thanks

    Tom

    • Thanks Tom. My client has a solicior already so I'm going to advise they speak to them in the first instance. I'll definitely get in touch should we need any further guidance though! 

  • Just asked my partner, who runs his own business - he doesn't have one either! Interested to see what comes back on this 

    • It really makes you think, doesn't it Jessie? And opens up a whole can of worms! 

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