Estate Planning

What happens when a small business owner dies or gets divorced?

06.2.2014
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A client recently asked, what happens to small businesses upon the death or divorce of an owner?  What documents should be in place prior to those events to smooth an ownership transition?  These questions can have many different answers depending on the facts of a specific situation, but here’s a general overview of the process, consequences, and ways to control ownership of a business if a death or divorce occurs:

 What happens to a small business if an owner dies?

The answer depends on the type of business.  If the business is a sole proprietorship […]

Why Everyone Needs a Will

12.17.2013
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With the year’s end quickly approaching, it’s time to ask:  Do you have a Will?  I was contacted earlier this year by 96.3fm K-TWIN to talk with their morning show hosts about why everyone needs a Will.  Wills are part of what we call estate plans, which can include Wills, Funeral Directives, Healthcare Directives, Powers of Attorney, Trusts, and more.  If you’re wondering why you need a Will or estate plan, here are two main reasons:

1) Having An Estate Plan Benefits You.  Anyone can benefit from the satisfaction and peace of mind […]