If you’ve spent a number of years establishing and growing a business, you’ve probably done so for a number of reasons, amongst which the support and welfare of your family would have been important considerations. A question many businesspeople ask themselves is: do I need a will?

What you want to happen to your business assets and your business interests when you’re no longer available to deal with them yourself will of course depend on your particular circumstances:

  • Is your business a small or medium-sized enterprise, or a larger organisation?
  • Is it a sole trader business, a partnership, a proprietary limited company, does its operation involve one or more trusts?
  • What is to happen to your business when you die?
  • Will your spouse or any of your children play a part in the business if it continues to operate?
  • Will your partner(s) or others involved in the business buy your interest in the business from your Estate?
  • If one or more trusts are involved, has a plan for succession of control of the trust(s) been put in place?

Some issues relating to your business interests will need to be dealt with in your Will, others may require additional documentation (such as a Shareholders Agreement, and/or amendment of your Trust Deed(s) – on which you would need to seek the advice of a legal practitioner) – however, in many cases a well-drafted Will may suffice.

Please note that LegalVision is a commercial law firm and cannot assist in matters surrounding wills.

COVID-19 Business Survey
LegalVision is conducting a survey on the impact of COVID-19 for businesses across Australia. The survey takes 2 minutes to complete and all responses are anonymous. We would appreciate your input. Take the survey now.

About LegalVision: LegalVision is a tech-driven, full-service commercial law firm that uses technology to deliver a faster, better quality and more cost-effective client experience.

The majority of our clients are LVConnect members. By becoming a member, you can stay ahead of legal issues while staying on top of costs. For just $199 per month, membership unlocks unlimited lawyer consultations, faster turnaround times, free legal templates and members-only discounts.

Learn more about LVConnect

Richard Kempe
Our Awards
  • 2019 Top 25 Startups - LinkedIn 2019 Top 25 Startups - LinkedIn
  • 2019 NewLaw Firm of the Year - Australian Law Awards 2019 NewLaw Firm of the Year - Australian Law Awards
  • 2020 Fastest Growing Law Firm - Financial Times APAC 500 2020 Fastest Growing Law Firm - Financial Times APAC 500
  • 2020 AFR Fast 100 List - Australian Financial Review 2020 AFR Fast 100 List - Australian Financial Review
  • 2020 Law Firm of the Year Finalist - Australasian Law Awards 2020 Law Firm of the Year Finalist - Australasian Law Awards
  • Most Innovative Law Firm - 2019 Australasian Lawyer 2019 Most Innovative Firm - Australasian Lawyer
Privacy Policy Snapshot

We collect and store information about you. Let us explain why we do this.

What information do you collect?

We collect a range of data about you, including your contact details, legal issues and data on how you use our website.

How do you collect information?

We collect information over the phone, by email and through our website.

What do you do with this information?

We store and use your information to deliver you better legal services. This mostly involves communicating with you, marketing to you and occasionally sharing your information with our partners.

How do I contact you?

You can always see what data you’ve stored with us.

Questions, comments or complaints? Reach out on 1300 544 755 or email us at info@legalvision.com.au

View Privacy Policy