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a We (three brothers) are now running a small haulage business as three equal partners.
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In 1968 my eldest brother was the sole owner of the business, until legally taking myself and another brother as equal partners.
In view of the fact that the eldest brother's name is the only one mentioned on the operator's licence, we are wondering what would happen to the business in the event of anything happening to him. What can we do to avoid any risk to the business?
AYour best course of action is to advise the Licensing Authority of the change of ownership of the business from a sole proprietorship to a partnership of three.
As this will not materially change the operations of the firm, it will not be published and thereby cannot attract objections.
Then, if anything should later happen to your brother, you just have to advise the LA that the business is owned by a partnership of only two.