Five Reasons Business Owners Need Estate Planning

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In this video I describe five reasons why - if you own a business - you may want to strongly consider getting your estate legal affairs in order. So small businesses are the backbone of the American economy. Many new businesses are formed every day and estate planning allows you to control what happens to your business when you die or are no longer able to run it.
And whether you are a member of an llc, a shareholder in a privately held corporation, or even if you just have a sole proprietorship, there are five reasons why business owners should take action to protect their business, their family, and their estate.
0:00 Business Owners Need Estate Planning
0:43 You Want to Bequeath Your Business To Particular People
2:18 Leave Your Business in a Trust for Centralized Management
3:07 Keep Your Business Out of Probate
4:13 Legal Problems When Business Owner Becomes Incapacitated
5:21 Avoiding Gift and Estate Taxes
6:11 Other Reasons Entrepreneurs Should Engage in Estate Planning

[@Simon-Misiewicz-US-UK-Taxes]

A very useful video thank you ever so much for sharing

[@americasestateplanninglawy1946]

Glad it was helpful!

[@Its_Just_Shane]

Good food for thought Paul. Thanks for this video. Quick question if I fund (as the grantor) an irrevocable trust over time while I am still alive do those transactions say deposits to a trust owned bank account count as trust income? Also are those taxable to the trust?

[@Who_hack_here]

I learned I needed estate planning but chaos previous POA and Medical POA apparently not terminate correctly. The attorney I was with in Oregon cannot proceed because of out of state conflict issues. And apparently I have what’s called gatekeepers stop me from achieve. Include SSA. And many more
What do you suggest in my dire situation as I also learned I know who the identity theft and medical identity theft person is. Will confirm on either Tuesday or Wednesday. What do I exact go from here since all my resources for years have run out?