Wills For Business Owners In West Sussex

If you own a business, your Will needs to do more than cover your home and personal savings.

It should also set out what happens to your shares, business assets, and your interest in the business, so the people you care about are protected and the business can continue smoothly.

To speak to us about putting the right Will in place, call our Worthing office on 01903 229999 or our Chichester office on 01243 781000.

If you are looking for general Will writing support, you can also view our Will writing solicitors service page.

Why Business Owners Need A Will

As a business owner, you will often have people relying on you: family, staff, customers, suppliers, and sometimes co-owners. A clear, properly drafted Will can help to:

• Make sure your business interest passes to the people you choose
• Reduce uncertainty for family members and business partners
• Avoid delays and disruption at a difficult time
• Protect the value you have worked hard to build
• Reduce the risk of conflict over what should happen next

Without a Will, your estate is dealt with under the Rules of Intestacy.

That can lead to outcomes that do not reflect your wishes, and it can create avoidable complications where there is a business involved.

What Is A Business Owner’s Will?

A business owner’s Will is not a separate type of Will.

It is a Will drafted with your business interests in mind, so it clearly deals with matters such as:

• Shares in a limited company
• A partnership interest
• Business assets

• Who should take responsibility for your business affairs as executor

In many cases, the most important thing is ensuring your Will works in practice for your family, and for the people involved in the business.

Your Business Structure Matters

The right planning depends on how your business is set up.

We help business owners across West Sussex put clear arrangements in place, whether you are a sole trader, in a partnership, or a shareholder in a limited company.

Wills For Sole Traders

If you trade as a sole trader, the business is closely linked to you personally.

In practical terms, this can mean the business may not continue in the same way after your death.

However, your Will can still deal with business-related assets and help the people you choose benefit from what you have built.

This might include:

• Tools, equipment, stock, vehicles, and other tangible assets
• Business bank accounts and money owed to the business
• Website domains, branding, client lists, and intellectual property

If you also need advice on business continuity planning or business documentation, we can involve our in-house Commercial team where appropriate.

Wills For Business Partners

If you are in a partnership, what happens on death may depend on the partnership agreement.

Your will can set out who should benefit from your partnership interest, but partnership documentation may include provisions about valuation, buy-outs, or who can take over.

Where needed, we can work alongside our in-house Commercial team to help ensure your estate planning and the business documentation work together in practice.

Wills For Limited Company Directors And Shareholders

If you own shares in a limited company, your Will can specify who should inherit those shares.

However, there may be rules in the company’s articles or a shareholders’ agreement that affect what can happen in practice, such as restrictions on share transfers or options for other shareholders.

Where appropriate, we can work alongside our Commercial team so your planning is joined up and your wishes are reflected as clearly as possible.

Making Sure Your Will Works With Your Business Agreements

One of the most common issues for business owners is a mismatch between a Will and business paperwork.

Depending on your circumstances, your Will may need to take account of documents such as:

• A shareholders’ agreement
• The company’s articles of association
• A partnership agreement
• Any succession or exit arrangements that apply if an owner dies

If these documents conflict, it can create delays, uncertainty, and unnecessary stress for family members, business partners, and executors.

Our Private Client team will make sure your Will clearly deals with your business interests.

Where the position depends on company or partnership documentation, we can work alongside our Commercial team so you have the right specialist input.

Choosing Executors And Planning For Continuity

Business owners often need to think carefully about who they appoint as an executor.

Your executors are responsible for administering your estate, and where there is a business involved, this may include dealing with shares, valuations, ongoing contracts, or a sale.

In some situations, it can be sensible to appoint a separate executor to deal with the business interest, who may be different from the executor appointed to administer the rest of your estate.

We will talk you through the options in plain English so you can make the right decision for your circumstances.

Inheritance Tax And Succession Considerations

Your will is a key part of wider estate planning.

If you have business interests, there may be inheritance tax considerations and potential reliefs that could apply, depending on the nature of the business and your wider estate.

Tax treatment can be complex and will depend on the detailed facts.

We are not specialist tax advisers, so where appropriate we may recommend that you speak with your accountant or a specialist tax adviser (for example, in relation to Business Property Relief), and we can liaise with them as part of joined-up planning.

Related Support For Business Owners

Business owners often find that Will planning naturally leads to other important protections.

If you would like to ensure your affairs can be managed if you become unable to make decisions, we can advise on Lasting Powers of Attorney.

If you are concerned about potential disagreements, or you need advice where a Will, trust, or estate may be challenged, our team can also help with wills, trusts and estate disputes.

Speak To Our Worthing Or Chichester Team

If you are a business owner and want to make sure your Will protects both your loved ones and the future of your business, we are here to help with clear, practical advice.

Call our Worthing office on 01903 229999 or our Chichester office on 01243 781000.

Alternatively, complete the form below and a member of our team will get back to you shortly.

Frequently Asked Questions