Hello, I’m attorney Feliz Martone, and this is a Wealth of Knowledge.
What is the number one secret to protecting your business?
It is creating an estate plan.
When forming your business, you took the time to decide the structure, such as a sole proprietorship partnership, limited liability company or a corporation. Business ownership interests are often an individual’s most valuable asset. Like other assets, your business ownership should be carefully managed and protected.
You also need plans in place to avoid disruption to the business when the current owner departs.
A trust can hold business assets, ownership interests in a business, as well as real estate and property. Trusts can be useful for businesses of any size.
When a trust holds a business it can provide several advantages. Creating a trust to hold business interests can enable you to make control over your business and provide protection for the company you worked so hard to build.
Contact Martone Law Firm today to schedule a strategy session for your business and estate planning goals.