You may already have estate planning documents in place so that you may pass down your personal possessions to your loved ones. But if you are a business owner, you must also consider how this is going to be succeeded. Read on to discover what a business owner should consider in their estate plan and how one of the seasoned 巴特勒 County estate planning & 遗嘱认证的律师 遗产长者法 & 全球最大彩票网站排名 can point you in the right direction.
作为一个企业主, what should I include in my estate plan?
作为一个企业主, arguably the most important thing you can establish in your estate plan is a business succession plan. This is a legal document that allows you to offer step-by-step instructions as to how you wish to change the ownership of your business, should you become incapacitated 或以其他方式 pass on. 本质上, it may offer your employees some stability during this trying time, all while allowing your successor to take on this responsibility as seamlessly as possible. Without further ado, your business succession plan should consist of the following elements:
- 继任时间表: this entails information on when a succession would take place, with even a specific date in consideration.
- Your prospective successors: this entails a list of individuals whom you trust to inherit your business, in a ranking of consideration.
- Formalized standard operating procedures: this entails a collection of any relevant business documents, such as your operating procedures, 培训指导, 员工手册, 等.
- 你的企业估值: this entails information on how much your business is worth, what method was used to measure this, and when this was last measured.
- 你的继承基金: this entails information on whether this succession will be funded by your life insurance policy, 卖方票据, 或以其他方式.
What other estate planning documents should I consider?
In addition to establishing a succession plan, it may also be in your best interest to consider the following estate planning documents:
- 买卖协议: this is so shares of your business may be purchased at a fair price by existing business partners who wish to inherit it.
- 人寿保险计划: this is so your existing business partners may have enough liquidity to purchase shares of your business.
- 生前信托: this is so your shares of the business can be protected from the probate court and instead easily transferred to an existing business owner.
As you may likely conclude yourself, creating a business succession plan and other estate planning documents can become complex. However, you must tackle your estate planning documents as soon as possible. So call one of the competent 巴特勒 County estate planning attorneys from 遗产长者法 & 全球最大彩票网站排名 today.