Estate Planning

If you have your own business, you may wish to keep the business within your family or sell it, before or after you pass away. Regardless of which option you choose, careful planning will ensure the business can stay up and running and be protected from large, unexpected tax liabilities. 

It's important to understand that the value of your business may continue to grow between the time you plan your estate and when you pass away, and that the taxable estate will include the value as of your date of death. 

Buy Sell Agreements -  If your business has one or more co-owners, you might consider establishing an agreement that upon the death, disability, or divorce of any owner, their interest is automatically purchased by the other owner(s). Life insurance can be purchased to cover these buy-sell agreements and provide necessary liquidity.