Running a business takes years of work. Without a will in place, that work can unravel quickly when you are no longer around to manage it. For sole traders, partners and company directors in Queensland, a death without a will creates an immediate crisis for the business, not just the family.
Queensland's Succession Act sets out who administers an estate when there is no will, but it says nothing about keeping a business running, paying employees or preserving the value of goodwill that took years to build. According to Queensland Public Trustee research from 2026, fewer than half of Queenslanders aged 40 to 60 have a current will. For business owners, that gap carries consequences that go beyond what the intestacy rules were designed to handle.
Brookwater Legal helps clients across Greater Springfield and Ipswich with wills, estate planning and business succession. Here is what a will can and cannot do for a business owner in Queensland, and why the structure of the business matters as much as the document itself.
Key takeaways
- A partnership dissolves automatically on a partner's death unless the agreement says otherwise.
- A will does not cover assets held as trustee or distributed through a family trust.
- A sole director's company may be unable to trade or pay bills without a new director.
This article is general information only and is not legal advice. Every situation is different, and you should speak with a solicitor about your own circumstances.
What can a will actually do for a business owner in Queensland?
A will deals with any property a person is entitled to at the time of death, according to Queensland's Succession Act. That can include a sole trader's business assets, a share in a partnership, shares in a company, and interests in business property. What a will cannot do is cover assets the person holds as a trustee, meaning assets in a family trust do not pass under the will at all.
The Queensland Public Trustee confirms that a will can name beneficiaries, appoint an executor and, importantly, set up a trust for a beneficiary who may not be ready to manage business assets on their own. A will can also nominate a guardian for any children under 18, which matters when the business owner is also the primary income earner for the family.
For a business owner, the executor's role becomes more complex than for a personal estate. Under Queensland's Succession Act, a personal representative may carry on the business, but generally only for the period reasonably necessary to realise it, and for any further period approved by the Court. That window is limited and may not be enough to sell a business properly or hand it to the right person.
What happens to different business structures when an owner dies in Queensland?
Sole traders, partners and company owners face very different outcomes when there is no plan in place, and the business structure determines what the will can and cannot reach.
- › Sole trader: the business assets generally form part of the estate and can be dealt with under the will. There is no separate legal entity. The executor can continue trading only within the limits Queensland's Succession Act allows, and the ABN cannot be transferred to a new owner, according to business.gov.au.
- › Partnership: unless the partners have agreed otherwise in a partnership agreement, a partnership is dissolved when any partner dies, according to Queensland's Partnership Act. The amount owed for the deceased partner's share becomes a debt arising at the date of death. Without a written agreement that addresses death, dissolution may happen immediately.
- › Company: the company itself does not die with a sole director. According to ASIC, the executor or administrator of the estate can appoint a new director, most efficiently where there is a will. Without a will, someone must apply to the Supreme Court for letters of administration first. While there is no director, the company may be unable to trade or pay its bills.
- › Family trust: a family trust generally keeps running after a business owner's death, according to Moneysmart. The trust deed, not the will, decides who receives trust assets and who controls the trust going forward. An executor has no power over the trust simply because they are named in the will.
When does dying without a will create the most risk for a Queensland business?
Dying without a valid will, known as dying intestate, means the estate is administered under Queensland's Succession Act rather than the owner's instructions. The Queensland Public Trustee confirms that the Succession Act sets out a fixed order of distribution, from spouse and children down to first cousins, and that the estate cannot be distributed to relatives more remote than first cousins.
For a business owner, the risk concentrates in three situations. First, where the business needs a director or authorised person to function from day one and none can be appointed quickly. Second, where a partnership has no written agreement and dissolves at the moment of death. Third, where the owner had a business partner, co-director or key supplier relationship that depended on them personally, and that relationship cannot easily be assigned or inherited.
The Queensland Public Trustee notes that it usually takes an average of 12 months to finalise a deceased estate. A business cannot simply wait that long without active management.
"A will is essential for any business owner, but it works alongside the partnership agreement, the company constitution and the trust deed, not instead of them. Getting the documents to work together is what protects both the business and the family."
Jade Kickbusch, Principal, Brookwater Legal
How does a solicitor help a business owner make a will in Queensland?
Step 1: Talk to us
Get in touch and we will explain how the process generally works and what the next steps look like for your situation.
Step 2: Review the business structure
We look at how the business is owned, whether there is a partnership agreement, company constitution, shareholders agreement or trust deed, and identify any gaps that a will alone cannot fill. Each document needs to be consistent with the others.
Step 3: Draft the will and supporting documents
We draft a will that addresses the business assets the owner actually controls, appoints an executor capable of handling a business estate and, where appropriate, includes a testamentary trust or business succession provisions. We also identify whether any supporting documents, such as a partnership agreement or enduring power of attorney, need to be updated at the same time.
Step 4: Execute and store the documents
We arrange proper execution of the will before two witnesses in accordance with Queensland's Succession Act and ensure the original is stored safely. We also hold a record of its location so the executor can locate it when needed.
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What does a will for a business owner need to include that a personal will might not?
A standard personal will focuses on real estate, savings and personal property. A business owner's will generally needs to go further. According to the Queensland Public Trustee, a will can set up a testamentary trust for a beneficiary who is not ready to manage inherited assets, and this is often relevant where a business interest passes to a spouse or child who was not involved in running it.
The executor choice is also more important. An executor handling a business estate may need to deal with staff, creditors, bank accounts and business contracts simultaneously. The Queensland Public Trustee recommends considering the executor's skills, willingness and availability, as well as the likelihood of family conflict over a business asset.
Business owners should also consider whether an enduring power of attorney is in place. Under Queensland's laws, an enduring power of attorney can authorise an attorney to manage financial matters, including selling property and carrying on a business, if the owner loses capacity before they die. The Queensland Government recommends getting independent legal advice before making one.
What does a will for a Queensland business owner not cover?
Several common business assets sit outside what a will can reach, and confusing these is one of the most significant risks for business owners who think a will alone is sufficient.
These assets are not controlled by a will in Queensland:
- › Family trust assets: controlled by the trust deed, not the will. The deed determines who takes over as trustee and who benefits.
- › Superannuation: paid according to the fund's rules and any binding nomination. A will does not automatically cover super, according to Moneysmart. Where a binding nomination directs payment to the executor, super may then flow through the estate.
- › Jointly owned property: passes automatically to the surviving joint tenant, not under the will.
- › Self-managed super fund: the trust deed must be followed even if it differs from the member's will, according to the Australian Taxation Office.
Succession planning for a business owner in Queensland generally requires the will, any trust deed, the partnership agreement or company constitution, and any superannuation nominations to work together. A will drafted without looking at all of them may leave significant gaps.
Frequently Asked Questions
Does a Queensland business owner need a special type of will?
There is no separate form of will for business owners in Queensland, but the Queensland Public Trustee recommends that the executor choice, any testamentary trust provisions and the interaction with partnership or company documents all be considered when drafting one.
What happens to a partnership in Queensland if a partner dies without a will?
Unless the partnership agreement says otherwise, the partnership is dissolved at the moment of death, according to Queensland's Partnership Act. The deceased partner's share becomes a debt owed to the estate. A written partnership agreement that addresses death is the primary protection against this outcome.
Can a sole director's company keep trading in Queensland after the director dies?
The company does not close automatically, but without a director it may be unable to trade or pay bills, according to ASIC. A will allows the executor to appoint a new director without first going to court, which is why having one is particularly important for a sole director company.
Does a family trust pass under a will in Queensland?
Generally not. A will deals with property the person is entitled to at death, according to Queensland's Succession Act. A person cannot leave by will property held as trustee, so the trust deed governs what happens to trust assets and who takes control of the trust.
When should a business owner in Queensland review their will?
The Queensland Public Trustee recommends reviewing a will after major business changes, including taking on a new partner, restructuring to a company, significant growth in asset values or a change in who the intended executor is. Marriage and divorce also affect a will's validity under Queensland's Succession Act.
Do you need a solicitor to make a will for a business owner in Springfield or Ipswich QLD?
A solicitor's involvement is not legally required, but the Queensland Public Trustee recommends getting legal advice where a business is involved, because the will needs to work alongside the company constitution, trust deed or partnership agreement. A solicitor can identify gaps that a standard kit will is unlikely to address. Our wills and estates solicitors act for business owners across Greater Springfield and Ipswich.
Can a business owner use a will to set up a succession plan in Queensland?
A will is one part of a succession plan, not the whole of it. Business.gov.au recommends choosing the right successor, valuing the business, documenting processes and planning for a sudden transition. The will deals with what happens on death; a partnership agreement or shareholders agreement deals with what happens before that point.
Your Next Steps
For business owners in Springfield, Ipswich and across Greater Springfield, the stakes of a missing or outdated will extend well beyond the family home. A business can lose its director, dissolve automatically or pass to the wrong hands, all before an estate has been formally opened. Getting the documents right, and making sure the will works with the business structure rather than against it, is what turns good intentions into a plan that actually holds.
If wills and estate planning for your business is on your mind, the next step is a straightforward one. Get in touch with the Brookwater Legal team or call (07) 3437 8555, and we'll talk you through how the process generally works.
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External Resources
Brookwater Legal · This article contains general information only and does not constitute legal advice. It does not take into account your individual circumstances. You should obtain legal advice about your own situation before acting on anything in this article. Liability limited by a scheme approved under Professional Standards Legislation.
