The worst thing about committing a legal mistake is that everyone seems to find it obvious after the event especially your wife/partner. If business owners started to create new, exciting, unique legal mistakes then it would be a real challenge for us lawyers-fortunately for us they do not.  This means that your lawyer has probably seen the legal mistake before and has a good idea what to do.  Although it may not seem that way to you. Many small business legal services can be divided into “deals” where lawyers prepare documents to anticipate and avoid future problems or “disputes” where things did not get documented at the start and the parties come out swinging.  Usually deals are cheaper than disputes.   Experienced business owners are adept at working out when to document and when to wing it. Mistake no. 1        You unexpectedly die and your business stops dead too. This can be very inconvenient. Avoid this by having a will including a busines...

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  Anyone who has watched Midsummer Murders on TV will know how unexpectedly death can occur. As distressing as your death might be, handled properly it is a fantastic tax avoidance event. With a well set-up trust, your business affairs can continue and no one need miss you at all (so accountants say). However, leave a mess and your relatives must sort it out, as well as coping with their abject grief at losing you. There are three steps to putting your legal affairs in order prior to your immediate demise. STEP 1      A will Many of you might prefer to leave this detail until you are on your deathbed. Apart from causing your lawyer to run around like a scalded cat it can be a prelude to the family dividing between those who were at the deathbed and who, coincidentally, benefited from the will, and those who couldn’t make it and lost out. STEP 2      An enduring power of attorney This enables one, two or more people chosen by you (called ...