The Estate Planning Minute: Business and Probate

Business Owners, what happens to your business, while in Probate? And How do you keep Control?
Welcome to the Estate Planning Minute.
I am Michael Glassford.
Each week I show you how to protect your family, build your wealth, and preserve your legacy, no matter where you're starting from.
I break Estate Planning down for you, one powerful tip at a time, and translate the lawyer secrets that you need to know into easy-to-understand, affordable, and usable information, to start your planning journey today.
Whether you love or don't love your business, it's yours. You built it. You have seen it grow. You have done everything to stay in control. And you have found success.
But what happens to your business if you don't plan ahead and it lands in Probate?
Who is in control now?
You know that in business, time is money, and for every minute that you can't operate there are serious financial consequences.
If something happens to you, the owner, manager, of your business, how does your family keep things going?
They have to gain control. And that takes time. They have to find an attorney, file a petition, and wait for the Court to appoint someone as the personal representative.
What happens if there is a fight over who that should be and everything is tied up in Court even longer?
Tick Tick Tick. Your business isn't operating, your family is losing money or worse value while your business suffers.
Once appointed, the Personal Representative, or also called the Executor, can control things. But what happened to your business while it was waiting for that?
With a Trust based estate plan, you can avoid the drama, the down time, and the loss of control over your business.
It's your life, it's your story, make it a good one.
This has been another Estate Planning Minute with Michael Glassford.
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For more information visit www.legallifeplan.com

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Shared on X. Great stuff