If you own a small business, you need an Estate Plan to help you prepare for a time when you cannot make decisions about the business and your personal life. Having a valid and well thought out plan in place is important for everyone, especially small business owners. It can help you avoid excess taxes or protect assets in the case of a lawsuit. Not having a plan in place can cause problems for your business and your family after you die. The basic building blocks of any estate plan include a Will, Power of Attorney, and Medical Directives. A Will is a set of instructions describing what happens to your assets and affairs when you die. The Power of Attorney and Medical Directives dictate who can act in your place for financial and health care purposes if you are incapacitated. Running a small business can keep you busy, but it should not keep you from creating an Estate Plan. To keep your business strong no matter what, make an Estate Plan.
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Starting a NEW business or know someone that could use our help? Call your friendly neighborhood attorney today.
Freya Allen Shoffner, Esq.
Shoffner & Associates
Counselors to Small Business and Families.
Give Freya a call at (617) 369-0111 TEXT US (413) 207-6219 or email fashoffner@shoffnerassociates.com
