This is not a topic that most optimistic entrepreneurs are immediately drawn to, but it’s an important part of the overall planning process. We work with our clients to simplify the estate planning process and address the main estate planning issues.
Some important areas to consider:
- Dual wills for entrepreneurs with valuable businesses are essential so that probate can be minimized
- The careful use of trusts ensures that taxes are minimized for the survivors (it can make a huge difference to a family if testamentary trusts are properly considered in the will)
- Carefully considering who will take care of minor children and who will manage the estate