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Recent Posts
What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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What Does the IRS’s recruiting efforts mean for taxpayers?

The IRS’s recent intensification in recruitment to address wealthy taxpayers is raising eyebrows among high-net-worth ...

The post What Does the IRS’s recruiting efforts mean for taxpayers? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim

Estate planning for business owners, particularly those known for impulsive decision-making, requires a nuanced approach. ...

The post Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Why A Will Isn’t Enough For Business Estate Planning

If you own a business, you need business succession planning and careful consideration about how to craft your estate planning to support your individual and company needs. Many business owners might only have the most basic of estate planning tools of a last will and testament.

If your estate plan only has a will in it, your estate, including all of the assets inside your business will have to go through the court supervised process known as probate when you pass away. It can take a few months for someone to appoint a person on behalf of you and your company to take action. This can significantly disrupt cash flow and operations. Furthermore, many people who have worked hard to establish a business want to maintain control over that and benefit from privacy. Remember that probate is a very public process, meaning that the affairs of your business could be open to your competitors or your neighbors.

Having the insight of an experienced estate planning lawyer is strongly recommended for every business owner who is looking forward to the future. Creating a business succession plan is one of the cornerstones of your estate plan because it allows for the transfer of the business based on decisions that you make now.

It can also include important documents, such as a buy-sell agreement, which allows certain other people to be able to step in and purchase your portion of the business if needed. Having these options is instrumental for keeping your company operating after you have stepped away, and it ensures that the right people have been tapped to step into leadership roles as necessary. Do not hesitate to contact an experienced business succession planning lawyer to discuss this option more.

Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
What Does the IRS’s recruiting efforts mean for taxpayers?

The IRS’s recent intensification in recruitment to address wealthy taxpayers is raising eyebrows among high-net-worth ...

The post What Does the IRS’s recruiting efforts mean for taxpayers? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim

Estate planning for business owners, particularly those known for impulsive decision-making, requires a nuanced approach. ...

The post Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more