Estate Planning & Business Ownership
Create a Strategy with Our Castro Valley Estate Planning Lawyer
As a business owner, one of your greatest sources of pride is the company
you have built and maintained over the years. Under your careful direction,
it has been able to operate with as little speedbumps along the way as
possible, but what will happen when you are gone? Is there someone who
can take over when it comes the time for you to focus on your own health instead?
These are very real concerns for business owners all throughout the country,
and many still do not know the answers to these pressing questions. The
good news is that you do not have to go into this complicated legal matter
on your own. If you live in or around Alameda County, you can rely on
the Castro Valley estate planning attorney from our firm, Sargent Law Offices.
The people of Alameda County have come to trust our lead attorney, Hannah
Sargent, with their probate
and estate planning
issues due to her:
Would you like to know more about how Attorney Sargent can help you? Schedule your free consultation
Important Matters Regarding Your Business and Your Estate
Even if you are just running a local mom-and-pop shop, there is undoubtedly
a great deal going on behind the scenes. A properly prepared estate planning
strategy will address all aspects of your business, how they relate to
your estate, and how they should be handled when you become incapacitated
or pass away.
While the list of everything that should be discussed with our firm may
be extensive, a few major points to consider include:
Tax minimization: Protect your business’s profits from steep IRS estate taxes, sometimes
known as a “death tax.”
Buy-sell agreements: If your business involves shareholders or partners, you can describe how
you want them to act upon your passing, either by buying out or selling
your shares. You may have to create a life insurance plan to help your
partners buy out your shares, if that is the route you decide to take.
Business debts: You can designate your personal property, such as your home or automobile,
to be used to pay off any business debts upon your passing.
Choosing heirs: Family-run businesses will need to name who will primarily assume your
previous roles. You can choose from spouses, children, and close family
friends. Regardless of what you choose, this step is critical and should
only be taken with the assistance of an estate planning and probate attorney.
Ready to Proceed?
Call (510) 344-2599 Today
Both your business and estate will serve as powerful symbols of who you
are and you should do all you can to ensure they are upheld, even after
you are gone. It might be stressful to consider what will be done with
your business and your assets after passing away, and you might even be
worried that you have not yet created an effective plan.
There is always time to take the rights steps and construct your own estate
plan with our Alameda County estate planning lawyer, Hannah Sargent. With
our firm at your side, you can feel comfortable in knowing that your and
your family’s futures are in good hands.
to speak with a friendly and knowledgeable legal professional today.