As an entrepreneur you are always busy, between business arrangements, acquisitions, finance and administration. In addition to your company you may also have a family. You have a lot on your plate – but estate planning is an important consideration.
Who will save your company if you cannot do so yourself?
This is also the case if something should unexpectedly happen to you. There are actually four real emergency scenarios for an entrepreneur:
- Short-term sickness
- Long-term sickness
- Permanent absence
Chances are, you have never really thought about drawing up important matters for the continuity of your company if something should happen to you. The consequences for your nearest and dearest also often remained unplanned.
Who represents you?
It is possible that you could be admitted to hospital unexpectedly. In that case someone must be able to represent you. This person will need urgent access to your company data and probably also to your business bank account. This sort of access and authorisation must be drawn up in writing.
What happens if you are no longer here?
Suppose you are permanently absent because of a serious illness. Are you well insured against not being able to work. Do you have a good arrangement with your company? Who will manage your invested capital and/or real estate?
What happens to your successors and to your private life?
You may also wonder whether you have drawn up the right marriage conditions and wills and if these need to be updated.
How we can help
GMW lawyers can provide the solution to the aforementioned situations. Our estate planning lawyers can check whether all the existing arrangements are in accordance with your wishes, amend them if necessary, and advise you on additional key considerations.
For more information, please contact us to discuss your situation.