Estate Planning for Small Business Owners
Did you know most small businesses don't survive the first generation? Not because these businesses aren't sound - it's usually due to failures in estate planning and communication. For instance, who will run the business when you're not around anymore? Will your heirs continue the business? Or would you rather your partners buy out your share? These kinds of decisions need to be made and then documented, the exact purpose of an estate plan. We cover how to minimize your taxes, the advantages of buy-sell agreements, specific reasons for life insurance, and what to do in the case of a sole proprietorship or family-run business.
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