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What you've built deserves a plan for what comes after.
Estate and legacy planning for business owners involves more than a will. It requires coordination across your business, your family, and your financial picture.
The Challenge
Estate planning for business owners is more complex than most people realize.
A business interest is not a liquid asset. Without careful planning, the death of a business owner can create significant challenges for the family, the business, and the people who depend on it.
Estate planning for business owners requires coordination across your business succession plan, your buy-sell agreement, your retirement assets, your personal investments, and your family dynamics. When these pieces aren't coordinated, the results can be costly.
Why It Matters
The consequences of inadequate estate planning
- Business interests may be difficult to value and transfer without advance planning
- Estate taxes can significantly reduce the wealth transferred to heirs
- Family members may inherit a business interest with no clear path forward
- Charitable goals may not be achieved without coordinated planning
- Multigenerational wealth transfer requires intentional strategy
Strategies to Consider
Estate and legacy strategies to consider
Estate and legacy planning involves complex legal and tax considerations. All strategies should be reviewed with qualified estate planning attorneys and tax professionals.
How Strategy360 Helps
Coordinating your estate and legacy strategy.
- Help coordinate estate planning with business succession and exit planning
- Work alongside your estate planning attorney and tax professionals
- Help ensure your estate plan reflects your current business structure and personal goals
- Facilitate coordination between your business, retirement, and estate planning
- Review estate and legacy strategy as your business and family situation evolve
Questions to Ask
- 1.Does your estate plan reflect the current value and structure of your business?
- 2.Have you coordinated your business succession plan with your estate plan?
- 3.Do you have a strategy for transferring business interests to family members or other successors?
- 4.Are your charitable goals reflected in your estate plan?
- 5.When was your estate plan last reviewed?
Ready to explore your options?
Schedule a strategy session and let's discuss what may be most relevant to your situation.
Schedule a Strategy Session