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What happens to practice after my death?

What happens to practice after my death?

I intend to draft my will within the next few weeks. The question I am uncertain about is what happens to my practice after my death. 

I do not have any intentions to retire - as long as my mind and body are healthy. 

If I die young - what happens? Does the person who I have put on my practicing certificate renewal form takes over and inform clients to find another accountant?  


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20th Mar 2012 09:08

No  It should be sold by the

No  It should be sold by the executors and the proceeds put into your estate.

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20th Mar 2012 13:02

What does your agreement say?

Hi - most continuity agreements set out exactly what the other firm undertakes to do should you become incapacitated (or worse) and would usually contain a clause to allow them, subject to a fair price, to purchase your firm off your personal representatives.  Nothing to force this and so as BM says it's up to your personal reps to work with the other firm and sell the business.

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