Peterborough office

48 Broadway, Peterborough Cambridgeshire, PE1 1YW

01733 346 333 01733 562 338 enquiries@hegarty.co.uk

Stamford office

10 Ironmonger Street, Stamford Lincolnshire, PE9 1PL

01780 752 066 01780 762 774 enquiries@hegarty.co.uk

Oakham office

66 South Street, Oakham Rutland, LE15 6BQ

01572 757 565 01572 720 555 enquiries@hegarty.co.uk

Market Deeping office

27a Market Place, Market Deeping, PE6 8EA

01778 230 120 01778 230 129 enquiries@hegarty.co.uk
  • Services
  • Sectors
  • Our Team
  • About us
  • Insights & Legal
  • Legal Q&As
  • Useful information
  • Contact us
  • Careers
  • 28 Feb 2014

    I am setting up a business do I need a will?

    Q. I am in the process of setting up a small business as a sole trader and a friend has suggested that I should think about making a Will. I am married with a young family but do not have much money in my estate and did not think that it would be worth making a Will at the moment. Would you advise that I should make a Will?A. I would agree that you should make a Will, so that not only can you make decisions about the distribution of your estate in  due course, but can also consider appointing guardians for your young family and take advice concerning the position of your business if you were to die. A suitably experienced solicitor can advise you as the issues arising in the valuation of your business, any Inheritance Tax exemptions and issues arising concerning your business in the administration of your estate.  There are specific matters that you might want to consider, such as who would run the business if you were to die, making sure that those people were given the appropriate powers under the terms of your Will. You should also consider entering into a Lasting Power of Attorney to appoint people to deal with your financial matters, including the business, in the event that you were no longer able to make decisions.rest.If you would like further advice, please contact Andrea Beesley-Hewitt at Hegarty Solicitors on 01780 750952 or email andrea.beesley-hewitt@hegarty.co.uk

    Stay up-to-date with Hegarty