– By Craig Williams
Business owners can cause big problems for their families and their companies if they do not make a will. Serious complications can arise unless a well-drafted will is included in succession plans for director shareholders. Failure to draw up a will can also leave families with an unwelcome and unnecessary tax bill.
While many are well aware of this, it isn’t unusual to come across younger entrepreneurs and business owners in their 30s and 40s who have not yet made a will and are not fully aware of the implications of this omission. In fact, about 50% of adults in the UK do not have a valid will at all, according to a survey by Will Aid, which represents nine charities. Continue reading →