Having your own business can have many impacts on your Estate Plan, from the selection of the business entity type you choose, to the way you purchase assets for the business. We can help you with these vital decisions.
Ten Most Important Steps for Successful Business Succession
1. Communicate the essential information required to continue to run the business.
2. Plan for the possiblity of disability.
3. Face the reality of mortality.
4. Plan for succession in the business.
5. Secure funds for the purchase of the business by your family or employees.
6. Provide funds for the equal division of family wealth.
7. Build a second estate to eliminate financial dependence on the business itself.
8. Eliminate potential in-law/second spouse invasion.
9. Protect family privacy.
10. Build, use and pay for a strong team of professionals.
|
|
