In addition to all the normal things contained in a will, this can appoint separate professional executors (such as your accountant or business partners) specifically to take care of your business, and can specify what is to happen to the ownership of the business. It can also contain a business Trust to enable your business to carry on immediately after your death while awaiting probate.
Business Lasting Powers of Attorney
A business LPA will give power to a suitable person to deal with your business assets only should you lose mental capacity after an accident or other circumstances
A very comprehensive agreement to cover most eventualities, essential for every partnership (including a married couple) can be essential to keep a business running after the death of a partner instead of automatically dissolving.
In a similar way to partnership agreements this covers shareholders for such things as what happens to shares should a shareholder die.
Cross Option Agreements
Gives a partner/shareholder in a firm an option to buy partners shares in the case of death of a partner and this is usually linked to a life insurance policy to provide the funds to make this practical.
Inheritance Tax Mitigation Ensuring you get the maximum Business Property Relief for your business assets.