Estate planning for the business owner can help current affairs

Many Texas residents have worked hard to build the legacies that are their businesses. They may have had dreams of it being a family business or of simply passing it on to the next qualified person in order to keep it up and running. Whatever the case, including details about a business during estate planning is wise.

Estate planning can help individuals become more aware of their personal and business-related financial affairs. This information can help when determining how to address those affairs during the planning process, but it can also prove useful when it comes to managing those affairs currently and in the future. It could help business owners learn about possible options for growing their wealth and allow them to protect it through their estate plans.

Additionally, estate plans can include information regarding business succession. No one wants to leave a company in the wrong hands, and planning ahead can allow an owner to name a specific successor. Also, having this plan could allow the owner to groom the successor him or herself to know that the person is right and ready for the position.

Estate planning does not just have to focus on what happens after a person's passing. It can bring about information that could prove just as useful to current affairs. Business owners may find their planning process a little more complicated than other individuals, but fortunately, they can obtain help from Texas attorneys who understand planning for both business and personal aspects of a person's life.

No Comments

Leave a comment
Comment Information

Contact Kolb & Murray, P.C., at 830-386-4801 to schedule your initial consultation with an experienced law firm devoted to serving you, your family and your business.

Send Us An Email

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Kolb & Murray, P.C.
515 East Court Street
Suite 100
Seguin, TX 78155

Phone: 830-386-4801
Fax: 830-372-2320
Map & Directions

American Academy of Attorney-Certified Public AccountantsAn experienced law firm dedicated to serving you, your family and your business.