I am passionate about helping small business owners protect their assets, and that means interfacing their business plans with their estate plan through the use of a Living Revocable Trust.  This is why my next series is about how to set up and use trusts.

You probably know that you should have an estate plan.  But you may not realize that your small business is one of your most valuable assets and that it can die if not planned for properly within your estate.  You need to use a trust to hold your assets so they won’t have to be probated when you die.  Check out my YouTube video and article at http://www.llcwizard.com/business-owners-need-also-estate-plan to get started.

Probate is generally a huge expense of time and money.  I just worked with a person who was charged $10,000 to get his mother’s small house through probate.  It was a simple probate with no challenges, and the house was the only asset.  Think how much worse it would have been if a small business had been involved!