Estate Planning and Business Succession Plans
business entity itself is the primary asset in the family's estate plan. Yeaster Legal helps small
business owners plan for retirement from their business through many different avenues
including everything from simply closing the business and counseling the owners through the
windup phase to complex succession planning for either the heirs of the business or an outright
sale of the business. The options are vast, and succession plans can vary according to the goals
of the owner.
Traditional Estate Planning
Yeaster Legal offers traditional estate planning for business owners and non-business owners
alike. If you would like to plan for major family assets to be put into a trust, or you would like
to transfer your assets via a traditional will, we can help you structure your estate to meet your
end of life goals. Whatever your goals may be, these documents should be reviewed regularly
given they can be affected by changes in the law and life events such as marriages, divorces
and new births of family members. If you have Estate Planning documents that were drafted
more than five years ago you should have them reviewed by a licensed attorney to see if they
need to be updated.
Durable Power of Attorney documents and Patient Advocacy forms
An important part of Estate Planning includes planning for a loss of capacity. It is important to
most clients that they have a family member or trusted agent that can make decisions about their
assets as well as decisions surrounding their end of life medical care. Yeaster Legal can help
provide counseling as to how to select these important persons as well as drafting the
documents that will grant the appropriate authority that is desired by the client.
Many families have family members or dependents with special needs. Planning for the long
term care or support of these persons often requires analysis of government benefits, tax related
issues, and careful review of the estate as a whole to ensure the preservation of estate assets for
the other remaining family members. Yeaster Legal can help review these sensitive scenarios on
a case by case basis, creating a custom plan that best serves each individual client's needs.
Probate, Estate and Trust Administration
If you are at a point where a family member has lost capacity or passed on and need counseling
or assistance in the administration of previously drafted instruments, Yeaster Legal can help.
Often personal representatives and agents of the disabled can get overwhelmed when they are
ultimately required to begin performing their duties. If you have concerns over making
decisions as an agent, fiduciary, personal representative or trustee, Yeaster Legal can assist you
and provide counseling as to the legal requirements of performing your duties.
Business owners often have unique assets requiring special care in the estate planning process
including such assets as heavy equipment, machinery, commercial properties, vacation homes,
even gun and weapon collections. The titling and ownership of these types of assets needs to
be planned very carefully. Yeaster Legal can help research and review the proper way to plan
for the succession of these assets by using a custom approach for each respective client's
individual situation and goals. Given some of the planning for these types of assets may take
longer to put into place than more typical assets it is highly recommended that these assets be
reviewed more regularly to ensure they are properly planned for.
|P.O. Box 1267
Highland, MI 48357
Ph. 248 212 2028
Fax. 248 634 0621
|Copyright 2011 - 2018
YEASTER LEGAL pllc