Trustees continuing business

Afternoon all

I was wondering if somebody could provide me with guidance as we are currently at a standstill with drafting a will.

Situation is as this:

  1. H + W are directors and shareholders in their company
  2. They both wish to make provisions that if anything happens to them both they wish for their parents to continue the business
  3. Currently the parents are also shareholders, very small shareholding but they will be Trustees.

Question is:

  1. Will the standard provisions, 2nd edition be sufficient
    IF NOT,
  2. Is an extension of powers required? (Has anybody got a precedent they could provide)

I am mindful of Bartlett v Barclays Bank and need some guidance.

Sarah Bourke.

Walker Solicitors