Succession planning for family-owned wineriesSuccession planning and the will

摘要

The first step in making a will, whether or not a business is involved, is to take instructions, including details of the client, his or her family, the people the client ought to have regard to, the assets (those which can pass under the will and those which cannot) and what the client wishes to achieve. The ownership of assets should be checked, firstly to ensure that the client is the owner and that the asset is not owned jointly as joint tenant, in which case it cannot pass under the terms of a will, but will pass by survivorship on death to the surviving joint owner.