Before discussing the legal complexities involved in translating a will, we need to understand what a business will is. A business will is an agreement which is drawn by legal experts on behalf of the owner/owners of an enterprise. This document designates the next legal owner of the business, in case the actual owner dies or is physically indisposed.
But apart from establishing the next owner, a business will lays out the entire business succession plan. It states the financial, managerial and operational policies of a company to which the successor must adhere, thus ensuring a smooth transition of the business. It also determines the stake of each beneficiary in the business, that is, the staff, family and investors.
In short, a business will is a document which is the final word on the responsibilities, obligations, policies and funding concerns of a company or organization after the death of its owner. The translation of a business will comes under the category of legal translation, for a will is drawn up with the help of legal advisers of a company.
Need for Translating a Business Will
In case the stakeholders in a business come from different linguistic and cultural backgrounds, there is need for the translation of the will. For instance, if the beneficiaries of a business speak French, Spanish and English, the original business will should be translated in each language.
Confidentiality of the Document
A business will is a confidential document which cannot be disclosed before the death of the owner. This sensitive document should be kept strictly confidential by the law firm and translation company.
The certified and notarized translations of a will must be identical duplicates of the original document, as well as of each other. Any discrepancy in the translations can lead to confusion and unnecessary delay in the implementation of the will.
Language of Law
All legal documents have a specific jargon which must be maintained in every translated version. The legal and corporate terms in a business will can only be translated by an certified legal translator.
Authenticity of the Translated Will
It is very important for a business will to be translated by a certified translation services company whose translations can be trusted. If the authenticity of a translated will is questioned by its beneficiaries, complications will follow that can be avoided. A translation company hired for the translation of a will must have a reputation for carrying out accurate translations that can be certified and notarized.
A legal instrument such as a business will is written to achieve specific legal objectives. These goals may include ensuring proper management and control of the business, ensuring viability, establishing future insurance policies, and maintaining a regular pattern for monetary dealings and payouts, etc. A business will is also a form of guidance for the new caretaker, instructing him/her on how to manage business debts and deal with personal guarantees, and professional obligations.
A successful translation of the business will fulfills the same objectives.