Business Planning

American entrepreneurs and other corporate leaders have discovered that wise business estate planning is essential to their success today and their families' financial security tomorrow. Business estate planning can help preserve wealth generated through the business, when the company's owner or a partner dies or becomes incapacitated.

Especially with a closely-held enterprise, much of an individual's wealth could be tied up in the business, which can significantly affect liquidity should a principal of the company die. That circumstance can have an important impact on that person's estate, if cash is not readily available to pay any probate, estate or income taxes and creditors.

There are several types of entities available to ensure that the assets you are building through your business will be protected through your estate. When developing a strategy to maximize the success of your business estate plan, it is imperative that you create the right type of entity that will allow you to reach your goals.

For example, structuring a buy-sell agreement can be exceedingly important in addressing issues related to minimizing taxes, preventing conflicts between any surviving partners, keeping select individuals out of the business, providing continuity and orderly transfer of ownership, enhancing liquidity, and helping your family receive the highest possible value for your portion of the company.

Let Hilliard Olson Law and Mediation help you craft the business estate planning tools that will meet your needs.