Don’t Let Emotion Get In The Way

Estate planning can be an emotional topic. It deals with your death.

Even when dealing the business estate planning, emotion plays a big role. You are dealing with people who may work for you.

Emotions can flare up with a death occurs in a family-owned business, says an article in Forbes. estate planning

It may have to do with hurt feelings between kids, one who may be involved in the family business and one who isn’t.

Or it can involve contesting of a will.

Closely-held businesses can evoke emotions when one owner dies and the remaining owners may get into valuation disputes with the dead person’s survivors.

The article says estate planning won’t necessarily avoid emotions but it can help control the adverse effects of disputes and disagreements.

There are techniques — buy-sell agreements, trusts, escrow and such — that can mitigate problems.

If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.

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