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Skilled Oklahoma Estate Planning And Business Planning Lawyers

Can you write business inheritance into wills?

by | May 18, 2018 | Firm News, Wills

As a business owner in Oklahoma, you’ve put monumentous effort into growing your company from the ground up. Naturally, you want your business to continue flourishing even after you pass. Lidia Law Firm is here to help ensure that your business is passed on according to your wishes.

Business and estate law do tend to intersect when it comes to family or self-owned businesses that you wish to pass down to someone else. In some cases, you might want to leave it to one or multiple members of your family. In other cases, you might prefer leaving your share of the business to a trusted business partner, even if they aren’t related. It’s up to you to first decide who you want your business assets to go to.

After that’s determined, you can also leave behind instructions in your will regarding what you want done with your portion of the business. Would you want the inheritor to sell the entire thing, or do you want the company to continue thriving even after you’re gone? Do you want your assets to be reinvested in the business? Would you like it to go toward expansion, or perhaps fixing any internal issues that need to be addressed? It’s all up to you.

When you’re ensuring that your business can be passed on as smoothly as possible, wills can be an irreplaceable tool. Take a look at our web page on wills and trust funds, linked here, for more information and access to experienced attorneys.