4 Reasons Why Estate Planning is So Essential for Business Owners

If you are running a business, it’s easy to give estate planning less priority than your other business matters. After all, if you’re facing challenges meeting next month’s payroll or your goals for growth over the coming quarter, concerns over your potential incapacity or death can seem far less urgent.

But the reality is considering what would happen to your business in the event of your incapacity or when you die is one of your most pressing responsibilities as a business owner. Although estate planning and business planning may seem like two separate tasks, they’re actually inexorably linked. And given that your business is likely your family’s most valuable asset, estate planning is crucial not only for your company’s continued success but also for your loved one’s future well-being.

What Your Last Will and Testament Will (and Will Not) Do - Part 2

Last week, in part one, we looked at the different things having a will in place allows you to do. Here, in part two, we detail all of the things that your will does not do, along with identifying the specific estate planning tools and strategies that you should have in place to make up for the potential blind spots that exist in an estate plan that consists of only a will.

Timothy ScottSeptember 6, 2022will, trust, estate plan, incapacity planning, special needs, pet trust, probate, guardians

How Estate Planning Can Reduce The High Cost of Dying-Part 2

Last week, in part one of this series, we discussed some of the Cost Of Dying’s most notable findings and explained how proactive estate planning can dramatically reduce many of the financial, logistical, and emotional challenges for your loved ones following your death. Here in part two, we wrap up our summary of the report and outline more of the ways proactive planning can relieve the burden of your death for your family.

This week, let’s continue to find out how estate planning can reduce the high cost of dying.

Timothy ScottJuly 26, 2022estate plan, probate, expenses, dying, will, trust

10 Common Estate Planning Mistakes Your Family Can't Afford to Make-Part 1

Estate planning involves actively thinking about and planning for frightening topics like death, old age, and crippling disability, many people put it off or simply ignore it all together until it’s too late. Sadly, this unwillingness to face reality often creates serious hardship, expense, and trauma for those loved ones you leave behind.

Read this week’s article to find out the 10 common estate planning mistakes your family can’t afford to make.

Timothy ScottJune 7, 2022wills, trust planning, guardianship, diy, probate, court, estate planning

Probate: What It Is & How To Avoid It-Part 2

To spare your loved one’s the time, cost, and stress inherent to probate, last week in part one of this series, we explained how the probate process works and what it would entail for your loved ones. Here in part two, we’ll discuss the major drawbacks of probate for your family, and outline the different ways you can help them avoid probate with wise planning.

Here’s part two of the series “Probate: What It Is & How To Avoid It”. Check it out now!

Timothy ScottApril 12, 2022probate, court, assets, beneficiary designations, revocable trust, living trust

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