Your estate plan can minimize taxes, protect assets from creditors, avoid family strife, avoid mismanagement of your estate, and/or keep the business in the family.
But as you consider plans for transferring wealth to the next generation, or passing on the family business, keep in mind that change is inevitable – and often, unknowable. Family dynamics can change. Tax laws may (and probably will) change. And the timing for when your estate plan will go into effect (your death) will always have an element of uncertainty.
With so much to consider, it is important to have an estate plan with flexibility to react to changing events. Watch this video to learn more.