Business Succession Joint Will
BUSINESS SUCCESSION JOINT WILL
This Business Succession Joint Will is executed on the January 7, 2085, by Lyda Fadel and Rocky Orn, residents of Portland, OR 97201. The Executors jointly declare this document to be their Last Will and Testament pertaining to the succession of their jointly-owned business.
Section 1: Definitions and Interpretation
For the purposes of this Will:
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"Business": Refers to SurePlus, located at Portland, OR 97201.
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"Executors": Refers to Joint Executors, Lyda Fadel and Rocky Orn.
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"Beneficiaries": Refers to the individuals or entities designated to inherit the business as described in this Will.
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"Successor(s)": Refers to the individual(s) who will take over the running of the business following the procedures outlined herein.
Section 2: Appointment of Successors
2.1 Primary Successor
We hereby designate Drake Feeney as the Primary Successor to assume the role of running the business effectively and responsibly upon the incapacitation or passing of the Executors.
2.2 Contingent Successors
In the event that the Primary Successor is unable or unwilling to assume control of the business, the following individuals will be considered in order:
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Jerrell Lowe
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Porter Hoppe
Section 3: Distribution of Business Interest
Upon our passing, we hereby allocate our shares and interests in the business as follows:
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50% to Drake Feeney - Son
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25% to Gino Rohan - Nephew
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25% to Carmel Ryan - Niece
Section 4: Conditions for Business Operation
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The business must continue operating under its current name, SurePlus, unless unanimously agreed upon by all Beneficiaries.
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No significant changes shall be made to the business model or core services without the written consent of the Beneficiaries.
Section 5: Executor Instructions
It is our wish that the Executors ensure a smooth transition of management and ownership, facilitating communication between Beneficiaries and Successors as needed.
Section 6: Severability and Governing Law
If any provision of this Will is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect. This Will shall be governed by the laws of Oregon.
Signatures
In witness whereof, we, Lyda Fadel and Rocky Orn, hereby sign this Business Succession Joint Will in the presence of witnesses.
Lyda Fadel
Rocky Orn
Witnesses:
Jerrell Lowe
