The business that you and your family built together is a source of pride and joy as much as financial security. You want to ensure its success and legacy long after you are gone.
However, when you are gone, you could have no control over who takes over the business or how it is handled if you leave no written plans for it. You can lay out your preferences for the future of your business and ensure that the proper people to take over it are named in your will by hiring a family business attorney in Kailua-Kona, HI, to represent your estate.
Naming Your Heirs
Without specifically laid out plans, anyone can lay claim to your business after you are gone. They can go to court and argue that they should be given a share or even total control of your company. The judge then has to entertain their arguments and render a decision about this aspect of your estate.
Your attorney can stipulate specifically in your will whom you would like to take over the business after you are gone. You can name the person or people to take control of the company and lead it into the future in your place.
Having this aspect of your estate spelled out clearly saves the probate judge from making this decision for you. You can learn more about hiring a family business attorney in Kailua-Kona, HI, by contacting Goodsill Anderson Quinn & Stifel at visit us website.
