What's going to happen to your family business after you die? Business owners must plan for succession or transition for when that time comes, and should be included in your estate and succession plans.
Today, attorney Mark Kellogg shared his insight with the Greater Lansing Estate Planning Council, at a meeting on estate and succession planning for family and closely-held businesses. His presentation included a look at:
• Different Types of Business Entities
• Joint Ownership of Personal Property
• Gift and Estate Tax Exclusion
• Key Components to Consider for Succession Planning
• Estate Planning Considerations
• Family Limited Liability Companies