If you have ownership interests in any Limited Liability Companies (LLC membership interests) or closely held corporations (stock or shares in the corporation), it is important that such interests be included in your comprehensive estate plan. Generally speaking, such interests need to placed in your trust to ensure that they are not tied up in probate when you pass away. Probate is often a death knell for small business and must be avoided at all costs. Many estate planning attorneys will not help you complete these documents, which leaves what may be your most important asset, outside your trust. Planning for your business interests is hugely important and should be a key part of your estate plan.
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