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Sole Traders and Succession

[Deleted User] · 2020-11-19 18:19:27

I was considering setting up as a sole trader however I am not sure what happens to the business if I die. Are sole trader accounts separate from the owner like company accounts?

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19-11-2020 7:19pm

#1

[Deleted User]
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I was considering setting up as a sole trader however I am not sure what happens to the business if I die. Are sole trader accounts separate from the owner like company accounts?

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#2 19-11-2020 8:15pm
marizpan

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Join Date: July 2008

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No legal separation at all.

The business would die with you, as to what happens to the assets of the business depends on your will.

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