Preparing For The Future With Estate Planning For Business Owners
As a business owner, property investor or other professional, you have worked hard to achieve success. But what will happen to what you have built after you pass away? For example, are there systems in place to ensure that rent is collected on your properties if you should pass away or be incapacitated? Is there a clear plan for who will operate your business if you are unable to? These plans are as important as a clear division of your assets, and you need an estate plan and other legal documents to address that.
At Dornish Law Offices, PC, we understand that estate planning can be especially complex for small business owners, real estate investors and other professionals. Our attorneys have the extensive experience necessary to help you navigate the estate planning process successfully. They have over 200 years of combined experience in real estate law, business and commercial law and estate planning and probate.
Helping You Transfer Your Business And Investments Safely
Our lawyers begin by assisting you in drafting the basic documents that every estate plan should contain. These will clarify your intentions for how you wish to receive medical care if you become incapacitated, and how to transfer your personal assets after you die. At the very least, this will include:
- A last will and testament
- Advance medical directives (also known as “living wills”)
- Powers of attorney
- Trusts (including living trusts, testamentary trusts and inter vivos trusts)
Beyond the estate planning basics, we can also help you develop a succession plan for your business, so that there will be no question how the enterprise should operate if you become incapacitated or after your death. When your estate involves real estate or business ownership, it can be particularly important to establish a plan so that the transfer of your assets goes as smoothly as possible.
It is extremely important to ensure that the estate plan you create is customized for your specific needs. One-size-fits-all plans can leave your estate vulnerable, and at risk to higher taxes and other potentially serious consequences. We will work with you to design the plan that is right for your situation.
Our firm also handles probate and estate administration tasks. If you have been tapped to administer a loved one’s estate, our attorneys can walk you through each step and ensure the estate is distributed appropriately.