The last couple of articles explained how important it is for families to have some type of Estate Planning document in place. Many people don’t know that the rights to a business belong in the owner’s trust. Not having these important documents could cause unfortunate complications especially if the business has multiple owners. There are three main matters to consider as a business owner. The remaining spouse’s role with the company to be determined if any at all. Deciding on a buy/sell agreement may ensure that the remaining spouse avoids many complications. Speaking to a professional and creating a plan would guarantee protection of assets. Please read on to learn more…
Why entrepreneurs need an estate plan to protect spouses, businesses