Passing a business on to your children is not the same as listing out other assets in your will. You need a viable business succession plan. You need to consider the future of the company and the employees, not just your own future or your heirs' futures. It's critical that you do all of this properly if you want to see your children take over the family business.
If you own a small business in the state of Georgia, it is likely that you will want your loved ones to benefit from your legacy in the future. Making sure that your business will live beyond your lifetime can be an exciting and fulfilling prospect. However, the road to making this a possibility can involve a significant amount of paperwork and planning.
When an estate goes through the process of probate, a personal representative is needed in order to manage the transfer of assets. Probate can be a very complex procedure and it can take many months. Therefore, the personal representative needs to be a trusted person who can manage all the details.