Wills and probate advice given to business owners

Those who own companies have been offered wills and probate advice to ensure that their will beneficiaries can easily obtain a grant of probate following their deaths.

Sue Medder, a legal adviser who appears on the television show Can't Take It With You, said that a number of will writing tips can be followed by the owner of a family business to make the the job of a probate executor easier after their death.

Ms Medder said that people must make sure that they talk about a will with their family before making one so that the succession process runs smoothly.

In addition, parents should listen to their children's opinions when compiling the legal document and may wish to change their plans accordingly.

It is also important for business owners to think of how to make proceedings as fair as possible for both those who will work in the business and those who will remain outside of its operation.

Furthermore, a recent report by the Institute for Public Policy Research suggested that the current Inheritance Tax should be abolished an updated version formulated to replace it.

Published by Phil Hammond