Estate Planning Actions for The Small Business Owner

Estate Planning Actions for The Small Business Owner

September 16, 2021

Review three basic conversations you should have as you begin to develop your estate plan. #EstatePlanning101 #NationalSmallBusinessWeek

Two things people avoid talking about are death and money. Combining the two is estate planning—the process of arranging for the management and disposal of a person’s estate while minimizing gift, estate, generation skipping transfer, and income tax. Estate planning includes planning for incapacity, reducing or eliminating uncertainties over the administration of a probate, and maximizing the value of the estate by reducing taxes and other expenses. 

Conversations about estate planning, though difficult, provide clarity and prevent conflicts. If you are a business owner, there are three estate planning conversations you need to have.

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