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Sole trader death .Making Redundancy payments .
Laurieo
Posts: 19
Forumite
A friend has passed away who was a sole trader .Her business will have to be closed down as it dies with her.
I am the executor of her will .
She employed staff who will be rightfully due redundancy payments .These payments will come from the estate but as it will go into
probate it will take months .
It is being handled by solicitors but I was wondering if anyone has had to deal with this situation and how they coped .
Thanks
I am the executor of her will .
She employed staff who will be rightfully due redundancy payments .These payments will come from the estate but as it will go into
probate it will take months .
It is being handled by solicitors but I was wondering if anyone has had to deal with this situation and how they coped .
Thanks
0
Comments
-
She's not a sole trader if she has staff... just saying.
So who employed them, under what contract?0 -
Except under very narrow circumstances (which the solicitors should have told you if they apply) you have to wait for probate before spending money from the estate
Slight aside - would any of the employees or beneficiaries of the will want to take on the business as a going concern?0 -
Why would you think them having staff stops them being a sole trader? Being an employer does not prohibit you from trading as an individual. Even those who don't trade at all but employ people in their home (cleaner, nanny, gardener etc) can be employers.Comms69 said:She's not a sole trader if she has staff... just saying.
So who employed them, under what contract?
OP, is there something specifically you're struggling with?You keep using that word. I do not think it means what you think it means - Inigo Montoya, The Princess Bride2 -
Thanks
Unholyangel .Yes your right about the trading part.
Problem we have is, if the business shuts down now ,as it should ,then redundancy payments ect will be frozen until probate is awarded and assets sold ,Been told this could be months for probate and longer for assets to be sold.
Usual problems for sole trader as assets are not just business but home ect.
I was just looking to see if anyone had been in the same position.
Everything is being done by a legal team ,there is no desire to not pay any outstanding commitments .
Thanks
0
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