I am glad you asked this question - it is not nice to think about it but I think it is very important - so I will now follow my own advice as set out below. Thank you for asking the question.
I would assume that you would carry on building your business after retirement but that your question is - what happens when I am no longer here to work my business?
In the first place you have to make sure that somebody, one or more of your beneficiaries knows about your business and that this person will do what needs to be done to ensure everything is not lost. Discuss it with the person you choose.
You have to make sure you know what is legally required in order for them to carry on and still receive the benefits. I saw in another answer that somebody referred you to the SFI rules about this - so that would be a good place to start to make sure that you have everything in order legally.
I also think it is a good idea to specifically mention your business in your last will and testament and be specific about what you want to happen.
I don't think you can do much more than that. It is a business and just as you would do with a normal business - you have to put everything in place and choose your successor.
I am glad you asked this question - it is not nice to think about it but I think it is very important - so I will now follow my own advice as set out below. Thank you for asking the question.
I would assume that you would carry on building your business after retirement but that your question is - what happens when I am no longer here to work my business?
In the first place you have to make sure that somebody, one or more of your beneficiaries knows about ...more
