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Estate Planning
Ensuring financial security for your family
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Securing your loved ones’ final wishes

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Helping you start and sustain your growing business

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Protecting your faithful companions

Business Succession Planning

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Many of these same people do have an estate plan, including a well drafted living trust – obviously some do not – but it is silent regarding the business. When planning ahead to protect the legacy that you have created, creating a thoughtful business succession plan is vital. Depending on the size and nature of the business, it may require the company's CPA, a financial advisor, an insurance professional, and an estate planning attorney.

There needs to be a mechanism in place that provides for the orderly transfer of the business. Some estate planning attorneys are recommending the creation of a special asset trust to manage the business immediately after the death of the owner of the business. This allows for key business decisions to be made by individuals pre-selected by the owner.

An estate planning attorney with experience in business succession planning is essential to the smooth continuation of a “small” business.

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