Commentary: Estate Planning for Business Owners

Summary

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You've spent a lifetime building your business. But with the recent turmoil in the market, many entrepreneurs saw a reduction in business. While we hope the worst is over, there could still be more rough waters ahead. Now may be the ideal time to make sure your hard work will survive the death of you or one of your partners.

As the owner of a closely held business, much of your wealth is probably tied up in the company. While plowing earned income back into the business helps finance growth, it can cause severe liquidity problems for your estate when you die. Your estate and surviving family members also may encounter liabilities that become payable upon your death. Finally, they may face decreased business earnings, due to your absence.

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Extract

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Commentary: Estate Planning for Business Owners

There are ways to overcome these liquidity problems. For business owners looking to keep their businesses thriving for the next generation, today's challenging environment offers a number of ...

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