& Business Planning
What do you need to know?
Thousands of new businesses are started in Oregon each year. The younger generation is engaging more in the entrepreneurial world and exploring the various opportunities that arise with business ownership. What are the keys to success? One key is careful business planning.
Questions for Business Owners
As a business owner, you are likely focused on keeping your business up and running smoothly. But business owners may want to consider the following questions:
What if you got into an accident and became incapacitated? Who would take care of your business while you were unable to do so?
What would happen to your business interest if you passed away?
As your business grows in value over the years, how can you pass it on to the next generation while minimizing or eliminating estate taxes?
Estate Planning Business Solutions
Our law firm helps business owners in a variety of ways, which may include the following:
Buy-Sell Agreement – This approach is used by businesses to divide the business interest of a proprietor, partner or shareholder under certain circumstances. It is often used to address the potential incapacity or death of a business owner.
Family Limited Partnership – This is a type of partnership designed to hold a family business or investment accounts. It is often used as part of a tax planning strategy.
Limited Liability Company – This is often used to hold real estate, investment assets or other business interests and can limit the personal liability of the owners for the company's debts or other liabilities.
In Oregon, many individuals own investment real estate. Asset protection planning can limit certain risks of ownership, including third party lawsuits.
Schneider Rasche LLC can help you protect your assets and pass your business on to the next generation. Call (503) 241-1215 or contact us today to discuss with one of our attorneys how we might assist you with your business planning.
Estate Planning Articles
These reports are compliments of Schneider Rasche LLC and were written by The American Academy of Estate Planning Attorneys.