Estate Planning for Business Owners

Our team specializes in straightforward estate planning designed specifically for business owners, making sure your hard work and legacy are protected.

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Our Estate Planning Services

15-Minute Consultation by Phone

Choose this option if you need quick guidance on whether a more in-depth meeting is right for you.

What to expect:

An opportunity to discuss your unique circumstances and goals.
Learn more about the estate planning process.
Explore your options.

With no obligation and no cost, a free 15-Minute Consultation is a low-risk way to get started and take the first step towards protecting your legacy.

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90-Minute Life & Legacy Planning Session

You will submit your family and business details in advance so that we can hit the ground running at this meeting to answer all of your questions and begin designing your personalized estate plan.

What to expect:

Education on how the law impacts your family, business, and assets by incapacity or death.
A comprehensive inventory of your assets.
Relational, compassionate counsel focused on guidance, not just documents.
Planning options that work for you and the people you love.

By the end, you will know exactly how to plan for yourself and your family, and at a price you choose, based on your assets, your family needs, and your budget.

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Why Choose Savone Law for Estate Planning?

Our Approach

Our estate planning services focus on keeping your business legacy safe by tackling the unique challenges that come with being a business owner.

Comprehensive Solutions

Discover our holistic approach to estate planning. We believe in crafting solutions that fit your individual needs. Whether it's drafting wills, establishing trusts, or addressing unique family dynamics, our team is dedicated to creating a plan that works for you.

Client-Centered Approach

At Savone Law, we prioritize understanding your unique situation. Our client-centered approach ensures that your estate plan reflects your values and goals. We believe in the power of personalization.

Legal Experience You Can Trust

Our team brings years of experience to the table. From crafting effective plans to navigating specialized areas within estate planning, we have the knowledge and skills to ensure your assets are protected and your wishes are met.

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The Benefits of Estate Planning

Estate planning is crucial for business owners to protect their businesses, assets, and loved ones. With the guidance of an experienced estate planning attorney, business owners can create a plan that meets their unique needs and goals and ensures a secure future for their businesses and families.

Protecting Business Assets

Business owners have a significant amount of assets tied up in their businesses, and estate planning can help protect these assets in the event of incapacity or death. Without a plan in place, the business could be at risk of dissolution or sale, leaving family members without a source of income.

Protecting Family Members

Business owners often have complex family situations, such as blended families or children from previous marriages. Estate planning can help ensure that all family members are provided for and that their wishes are carried out in the event of their incapacity or death.

Business Succession Planning

Business owners also need to plan for the future of their businesses. Succession planning ensures a smooth transition of ownership and management in the event of the entrepreneur's retirement, incapacity, or death. This can help preserve the business's legacy and ensure its continued success.

Streamlined Distribution of Assets

With a well-crafted estate plan, we simplify the distribution of assets, minimizing potential conflicts and ensuring your wishes are carried out smoothly. From personal items to financial assets, we help you create a clear roadmap.

Minimizing Taxes

Estate planning can help minimize taxes on a business owner's assets, which can have significant financial benefits for their family and business. With careful planning, a business owner can ensure that their assets are transferred to their loved ones in the most tax-efficient way possible.

Peace of Mind

Finally, estate planning can provide peace of mind for business owners, knowing that their businesses, assets, and loved ones are protected. With a comprehensive estate plan in place, business owners can focus on running their businesses and living their lives to the fullest, without worrying about what will happen in the future.

What Our Clients Are Saying

“Sorting out my estate plan with Rosanna at Savone Law was an unexpectedly smooth experience. I don’t have kids, but I do have a business that’s my baby, and it was super important to me that it would be protected within the trust. Rosanna totally got it. She made the whole process feel really straightforward and personal. She understood exactly how to secure my business and ensure my assets would go exactly where I wanted. Now, I’m totally at ease knowing my business and personal assets are in safe hands and will benefit the people and causes that mean the most to me.”

Brooke Haueisen - Former Client

“As a freelance entrepreneur and a divorced dad with a young daughter, I needed someone who could protect my business while ensuring my daughter’s future was also secure. Rosanna didn’t just understand the ins and outs of my business life, but she also showed great insight and sensitivity towards my family’s needs. She put together a plan that perfectly balances my professional interests with my daughter’s welfare, giving me a huge sense of relief. Her personal touch and genuine concern truly made all the difference. I’m extremely thankful for her guidance and wouldn’t hesitate to recommend her to other parents or entrepreneurs.”

Michael Ferri - Former Client

“Rosanna is thorough, detail-oriented, thinks out of the box and handles it with a pleasant and responsible attitude.”

Kathryn Johnson

“Rosanna is not what you usually expect from an attorney. She’s very easy to talk to, and you get the sense that her interest is helping you with your problem, not helping her bottom line. Without question, I would feel comfortable recommending my closest friends, family and clients to her. She’s focused, driven and follows through with her promises.”

Russel Samuels

FAQs

Why is estate planning important for business owners?

Estate planning ensures the smooth transition of your business assets and control, minimizing potential disruptions and providing financial security for your heirs.

What key documents are essential for business owners in estate planning?

Important documents include a will, a living will, power of attorney, a buy-sell agreement, and a comprehensive business succession plan.

How does estate planning help minimize taxes for my business heirs?

Through strategic planning, estate tax liabilities can be minimized, allowing more of your business assets to pass to your heirs without the burden of excessive taxes.

Can estate planning protect my business in case of incapacitation or disability?

Yes, proper estate planning can designate decision-makers for your business in the event of your incapacity, ensuring its continued operation.

What is a buy-sell agreement, and why is it crucial for business owners?

A buy-sell agreement outlines how business interests will be transferred in the event of an owner's death, disability, or retirement, preventing disputes and ensuring a smooth transition.

How often should I update my estate plan as a business owner?

It's advisable to review and update your estate plan regularly, especially during significant life events, changes in business structure, or alterations in tax laws.

Can estate planning protect my family's financial interests outside of the business?

Absolutely. Estate planning can encompass personal assets, ensuring your family's financial well-being beyond the scope of your business.

What role does life insurance play in estate planning for business owners?

Life insurance can provide liquidity for the payment of estate taxes or facilitate the buyout of a deceased owner's share, easing the financial burden on surviving family members.

How can I ensure a smooth business succession through estate planning?

Develop a comprehensive business succession plan that identifies and prepares successors, outlines the transition process, and addresses potential challenges.

What happens if I don't have an estate plan for my business?

Without an estate plan, the fate of your business may be uncertain, leading to potential disputes, tax inefficiencies, and financial challenges for your heirs. Estate planning provides clarity and protection for both your business and your family.

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