Estate Planning Basics for the Family Owned Business

Few things in life can bring more joy and satisfaction than owning a business. It can provide flexibility, autonomy, and a great income for generations. Successful family-owned businesses often are handed down to children and grandchildren, creating legacies as well as wealth. But business owners face more complex questions when preparing their final affairs. Unlike most Americans, small business owners have added concerns about who will take over the business, how the business will be run after they are gone, and what would happen to the business if they became incapacitated in some way. These and more are issues that...