Learn · Estate Planning
If You Own a Business, Your Estate Plan Is Incomplete Without This
Your operating agreement, your will, and your trust may all say different things. If you die or become incapacitated, who actually controls your business? The answer might surprise you.
Key Points
What Business Owners Need to Know
- 01
Your Business Doesn't Pass Like Other Assets
LLC interests, partnership stakes, and S-corp shares have their own transfer rules. A will alone may not control what happens to your ownership.
- 02
Operating Agreements Can Override Your Will
If your operating agreement restricts transfers, your estate plan may conflict with it. These documents need to work together.
- 03
Buy-Sell Agreements Prevent Chaos
A buy-sell agreement defines what happens to ownership when a partner dies, becomes disabled, or wants to exit. Without one, disputes are almost guaranteed.
- 04
Key Person Risk Is Real
If the founder or rainmaker disappears, payroll, clients, and operations can collapse. A succession plan isn't optional — it's survival.
- 05
Incapacity Hits Businesses Harder
Death is final. Incapacity is ambiguous. Without a POA that covers business operations, no one may have authority to sign checks or make decisions.
- 06
Trusts and Business Ownership Interact
Transferring business interests into a trust requires careful coordination with your operating agreement, tax structure, and co-owners.
FAQ
Common questions
Next Steps
Business + Estate Plan = Protected
Find out which plan fits your business and your family.