Westcotes Wills

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Wills, Lasting Power of Attorney, Deputyship Applications - helping individuals, families, business owners and groups understand the importance of planning if you become ill or die.

Are you starting a business? If you need to make a will or review your existing one to include your business, we can hel...
05/06/2026

Are you starting a business? If you need to make a will or review your existing one to include your business, we can help. Get in touch using the form below or call us on 0116 380 0752.

Do I need to pay a professional to draft a shareholder or partnership agreement? It seems expensive.Putting these docume...
03/06/2026

Do I need to pay a professional to draft a shareholder or partnership agreement? It seems expensive.

Putting these documents in place costs money because they’re tailored to your business, but it will always save money in the long run, as long as they’re drafted correctly. The comparative cost between getting a proper shareholder agreement or partnership is a few thousand pounds, compared to tens of thousands to sort out a mess when you die.

If you’re starting a business and writing or updating your will, what documents do you need?Limited companies must have ...
01/06/2026

If you’re starting a business and writing or updating your will, what documents do you need?

Limited companies must have articles of association and a memorandum of association, but a shareholder agreement can also be a good idea if you have more than one shareholder. It details what happens in various circumstances, including how to value the business if a sale is agreed, what happens if a shareholder dies or retires, and what happens if there is a falling out between the shareholders. This is even more important if you run your business with family members.

They’re bespoke documents, so they cost money, but if they’re drafted correctly, they will always save you money in the long run. Paying for a proper shareholder agreement costs much less than legal fees to sort out a problem.

Creating the right company documents protects your family business now and after you’re gone.We’ve encountered a few fam...
29/05/2026

Creating the right company documents protects your family business now and after you’re gone.

We’ve encountered a few family businesses that have an informal partnership, but don’t have a written partnership agreement. Depending on your circumstances, an unwritten partnership will mean your business automatically winds up if someone in the partnership dies. If that happens, you’ll have to do finalised accounts up to the date of death and then start the partnership again the following day with the remaining partners. This is traumatic all round and can be avoided by having a written partnership agreement in place.

If you have a limited company or written partnership with more than one shareholder or partner, your will shouldn't conf...
27/05/2026

If you have a limited company or written partnership with more than one shareholder or partner, your will shouldn't conflict with your company documents. Your documents, including articles of association, shareholder agreement and partnership or LLP agreement. These can override the provisions in your will if there’s a mismatch. That could allow shareholders to cancel bequests or affect the ongoing running of your business if you don’t have the right documents doing the right thing.

Can I appoint a separate executor to deal with my business when I’m gone?You can have a separate business executor if yo...
25/05/2026

Can I appoint a separate executor to deal with my business when I’m gone?

You can have a separate business executor if you need someone with business experience or specific expertise. It’s a good idea to include a letter of wishes with information on who your executors can contact to help them during this period. This could include your accountant, legal adviser, tax adviser and financial planner.

Your executors carry out the provisions in your will. If you have a business, your executors will have to deal with both...
22/05/2026

Your executors carry out the provisions in your will. If you have a business, your executors will have to deal with both your personal and business assets, so think about who you should appoint. You can appoint a separate business executor if you need to.

What will happen to your employees if your business closes when you die?If you have employees, you should also consider ...
20/05/2026

What will happen to your employees if your business closes when you die?

If you have employees, you should also consider what will happen to them if the business were to close. Your will can help you protect them. A will writer can include specific clauses in your will which allow your executors to own and manage the business during a transition period.

As a business owner, when you write your will, you should also leave instructions so your executors know what to do with...
18/05/2026

As a business owner, when you write your will, you should also leave instructions so your executors know what to do with your business. It might be able to continue without you, but if you’re going to wind things up, think about what will happen to the people left behind. That could be your clients or employees.

If you have a business that’s going to wind up when you’re gone, you might think you just need to leave instructions for...
15/05/2026

If you have a business that’s going to wind up when you’re gone, you might think you just need to leave instructions for your executors. However, you should still consider what will happen to your clients. You might want to signpost them to someone else offering the same service, so they aren’t left in the lurch. If you’re in a regulated profession, your regulatory body may require you to have a named person to contact if you die. We have an agreement with another firm, but our professional body would step up if necessary.

Address

Leicester

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

Telephone

+441163800752

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