Chris Watts – Will Writer, Fern Wills & LPAs
Last verified: 29 August 2025 (England & Wales)
For UK business owners, your Will is not just about your personal estate — it is the foundation of business succession planning. A properly drafted Will ensures your company shares or assets pass to the right people and align with your company’s Articles of Association.
Alongside your Will, a Business Trust can protect your business legacy and provide tax advantages. Finally, a Business Lasting Power of Attorney (BLPA) safeguards your business during your lifetime if you lose capacity.
Without this planning, families may face frozen bank accounts, legal disputes, or the forced sale of a business. With it, your business and family are both protected.
Review your Will and business succession plans if:
Core tools:
A shop dispute due to clashing documents
Mr Brown left his retail shop shares to his children in his Will. But the Articles of Association gave surviving shareholders first refusal. The conflict triggered litigation, drained resources, and caused a family rift.
Protecting family shares through a Business Trust
Mrs Khan ran a printing company. Her Will placed company shares into a Business Trust, ensuring her children benefited equally while professional trustees managed disputes. This avoided family conflict and secured inheritance tax relief.
Fern Wills ensures Will and Articles worked together
Mrs Cole owned a consultancy. With Fern Wills’ help, her Will was updated to match the Articles, and a BLPA was added. When she later lost capacity, the business continued smoothly, and on her death, the company was sold for full value.
Sole trader left staff unpaid
Mr Davis, a sole trader plumber, had no Will covering his business and no BLPA. When he fell ill, wages went unpaid and contracts collapsed. By the time authority was granted, the business had lost its value.
👉 To see how Business LPAs can keep your company running during your lifetime, read our Business Succession Planning with LPAs guide.
1. Do I need a separate Will for my business?
No. One Will can cover both personal and business assets — but it must deal clearly with business interests.
2. What is the role of a Business Trust?
A Business Trust can hold company shares or assets on behalf of family members, helping reduce disputes and potentially qualifying for inheritance tax relief.
3. What happens if my Will conflicts with company Articles?
The Articles take priority. Your heirs may not inherit as you intend if documents are inconsistent.
4. What is a Business Lasting Power of Attorney (BLPA)?
A BLPA allows you to appoint trusted people to run your business if you lose mental capacity. It is separate from your personal financial LPA.
5. Should sole traders worry about succession planning?
Yes. Even small sole trader businesses can suffer disruption. Without a Will and BLPA, assets may be frozen, leaving staff and clients stranded.
6. Can business assets qualify for inheritance tax relief?
Yes. HMRC’s Business Relief can reduce inheritance tax by up to 100% on qualifying assets. Proper Will and trust planning is essential.
If you own a business, your Will should be reviewed urgently. Aligning it with company documents, considering a Business Trust, and adding a BLPA creates a complete safety net.
Fern Wills & LPAs can help you:
📞 Contact us today for expert support in protecting both your family and your business.