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Why Legacy Planning Is Critical for Business Owners

| February 22, 2019

While many people view estate planning through the narrow lens of death and taxes, estate planning is really about the living. As part of a comprehensive financial plan, an estate plan helps you manage your business and personal financial affairs while you're alive and control the distribution of wealth upon your death. How you care for and protect the people and the causes that mean the most to you during your lifetime and in your absence forms the core of your legacy. Your estate plan helps to ensure your legacy is carried out according to your wishes by aligning your financial goals with your values. 

That becomes even more important—and somewhat more complex--when your business forms the core of your legacy. An experienced advisor can help you create a strategy that supports your goals for your business and your family that address:

  • Protecting income and lifestyle goals
  • Monetizing business value
  • Transitioning ownership within or outside of your family
  • Pursuing philanthropic goals and objectives

To learn more, contact the office at 810-471-3732 to talk about ways to help protect the value of your business to ensure those you care about most reap the rewards of your hard work for generations to come.