A professional will is a specialized document that outlines how a professional's affairs should be handled in the event of their incapacity or death. It is particularly relevant for individuals in professions where their expertise, client relationships, or ongoing projects are critical. Here are some key aspects of a professional will:
The Purpose of a Professional Will in Alaska
Unlike a traditional will, which primarily addresses the distribution of personal assets, a professional will focuses on the continuation of professional duties, the management of client relationships, and the handling of business affairs.
The Contents of a Professional Will
A professional will may include instructions for the management of ongoing projects or cases; designation of a successor or a trusted colleague to take over responsibilities; guidance on how to communicate with clients and stakeholders about the transition; or information on handling confidential client information and records.
How Does a Professional Will Work With My Final Will and Testament?
A professional will is often used in conjunction with a traditional will, which addresses the distribution of personal assets, family matters, and other personal affairs. Having a professional will ensures that a professional's practice can continue smoothly and that clients are cared for, even in unforeseen circumstances.
Professional Will Services from Shortell Law LLC
As legal professionals, we understand the importance of protecting your business' relationship with its clients. Ensuring that your clients will be cared for in the event of your death or incapacity is a crucial part of business transition and estate planning. To work with Shortell Law LLC, please call (907)272-8181 today.