Does owning a business impact my estate plan?

Video Transcript

Yes, owning a business definitely impacts your estate plan. It’s an asset that’s in your estate, and so you need to determine who you want to receive that asset. Having a business succession plan in place is critical, so that there are no issues and there are no fights when something happens to you. You want to make sure you have in writing what happens to your business, because it’s an asset of your estate.