Season 2 Ep. 15 What happens to your business when you die
In this episode of The Vicca Law Podcast, the discussion turns to an often-overlooked yet critical component of estate planning: business succession. When a business owner passes away, what happens to the company depends largely on how the business is structured and whether appropriate provisions have been made in their will or estate plan. The episode explores why many wills—particularly DIY or public trustee documents—fail to address business and trust interests, leaving families and colleagues uncertain and unprepared. The conversation also highlights the difference in succession processes depending on whether the business is run as a sole proprietorship, partnership, company, or trust. Importantly, it underscores the risks of not including clear instructions for business succession, especially for sole directors or controllers of family trusts.
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