If you’re a company director, you’ve likely spent years building something of real value: a business that supports your lifestyle, your family, and perhaps even your team’s livelihoods. But while day-to-day operations demand your focus, long-term planning for what happens if you're no longer around can be easy to put off.

It’s not always a comfortable subject, but delaying writing a will can lead to unnecessary confusion and complications later. Without one, your estate, including your business assets, may not go to the people you’d choose. It could also delay important decisions and create uncertainty for your company when clarity is needed most.

Here’s why having a valid will should be high on every director’s to-do list.

Your business assets don’t sort themselves out

Without a will, your estate, including your company shares, will be distributed according to the UK's rules of intestacy. These are fixed legal guidelines that don’t account for personal wishes, modern family structures, or business ownership.

If you’re a sole director and shareholder, the consequences can be even more serious. Until probate is granted and someone is legally appointed to manage your estate, your company could be left without leadership. This means your company would be unable to make key decisions, access funds, or even continue trading.

Even in companies with multiple directors, delays and confusion can arise if ownership of shares isn’t clearly assigned. The result can be unnecessary disruption, stress for your family and colleagues, and in worst-case scenarios, the winding up of the business.

Your will is part of your business continuity plan

A business doesn’t stop when a key director passes away, but without clear legal instructions, it can easily grind to a halt.

Business owners often invest time in planning for growth, financial stability, and even succession. But a proper will is a crucial part of continuity planning too.

It allows you to:

• Decide who inherits your shares and assets
  
• Appoint executors to carry out your wishes
  
• Ensure your family and business aren’t left in a legal or financial mess

In family-run businesses, this can help avoid conflict between surviving relatives or between family and business partners. For larger companies, it gives clarity to other shareholders and helps maintain investor or stakeholder confidence.

A well-drafted will can also help with tax planning, reducing the inheritance tax burden on your estate and protecting more of what you’ve built for the next generation.

Protecting your family, financially and emotionally

Most directors don’t build a business just for themselves. The income it generates may support a partner, children, or extended family. Having a will helps protect those people financially and can spare them unnecessary stress at an already emotional time.

Without a will, your family could face:

• delays in accessing business accounts or assets
  
• disputes over who inherits what
  
• legal fees that eat into the estate’s value
  
• uncertainty about your intentions or business plans

A will brings clarity. It allows you to leave specific instructions, assign roles such as executors or trustees, and even make provisions for dependents or vulnerable family members. If you have young children, you can also name guardians — something intestacy rules don’t provide for.

How to start the process

Writing a will doesn’t have to be expensive or time-consuming. If your affairs are straightforward, there are online or telephone will-writing services that offer a good starting point. These services can guide you through the basics at a low cost and with minimal hassle.

That said, company directors often have more complex needs. Business assets, shareholdings, dividends, and other factors can make a standard will less suitable. In these cases, speaking to a solicitor who specialises in estate planning can help ensure every detail is accounted for and nothing is left open to interpretation.

Here are some questions worth thinking about before writing your will:

• Who should inherit your shares or ownership rights?
  
• Should your business continue, be sold, or be wound down?
  
• Do you need to set up trusts for minor children or dependants?
  
• Have you considered inheritance tax implications?

It’s a good idea to speak with a solicitor who understands both personal estate planning and company law, so your will reflects your unique situation as a director.

Start planning your will today

So what can directors do next? Speaking with a solicitor who specialises in estate planning is a good way to get fully tailored advice. 

There are also several reputable online and telephone will-making services available in the UK. If your estate is straightforward, an online service may be suitable. But for business owners with more complex assets, a telephone-based service can provide added guidance and help ensure everything is properly accounted for.

Making a will is a simple, proactive step that offers peace of mind and protects what you’ve worked so hard to build. If you don’t have one yet, now’s the time to start the process.

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