Friday, May 2, 2014

Estate and Gift Planning, Tip #8

I am continually amazed at the number of small business owners have NOT done succession planning or implementing a succession plan to their children to take over the business.

Ask every business owner you know if they have children in the business if they have done succession planning.

Tell them about how a Charitable Lead Trust as a possible way their favorite charity might be able to help them do this.

Most states have a will laid out in law about how estate are handled.  Make them aware of how an intestate estate works in your area.

Here is what Michigan has in mind for your estate if you do not have a will or a trust. http://1.usa.gov/PXnVPh

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