Whether you are the sole owner of the business or are in a partnership, the equity you have in the business is an asset of your estate; you wish your family to benefit from the value you hold at the time you pass away.
This can certainly be a complicated situation, and over the years I have seen many smart, successful business owners avoid the issue due to complexity, emotions and myriad other factors.
We need to put a plan in place so that the value you hold in the business will go to your heirs. I look forward to sitting down with you to start the conversation about your estate plan.
While it never seems like the right time to do this, the right time is always now. Please contact me at no risk to you.
While there is no legal requirement in Illinois that a Lawyer has to be hired by a home seller, as a practicality it is nearly impossible and certainly ill-advised to represent oneself. There are many documents that need to be drafted, almost all of them fairly complex and detailed. Additionally, the negotiations that often occur […]
When I meet with prospective Estate Planning clients for the first time, it is very common for most people to believe that an effective Estate Plan must be complicated. This is generally not the case. A well drafted document – whether it is a Will or a Living Trust – should be not only legally […]
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If you have a living trust in place, it can probably be amended. It is, however, completely dependent on whether it is what is known as a Revocable Trust. The majority of Trusts are revocable in nature, which is the legal wording used to also indicate that they are amendable, or can be changed. This […]