Estate Planning Tips for Business Owners as 2021 Comes to an End

The last two years have presented a variety of challenges for business owners due in no small part to the COVID-19 pandemic. If you are a business owner, you have strived and painstakingly worked to create a successful business. As a result, when it comes to leaving behind your company or your assets, you understandably want to do so in the best way possible. Having a good estate plan is the best way to make sure that your goals for the future are achieved. Estate plans are not written in stone, though. As 2021 draws to an end, there are some important estate planning strategies that you should consider.  Review the Terms of Your Estate Plan Due to ongoing federal legislation developments as well as potential life events that might have occurred, your estate plan likely needs to be revised accordingly. Most recently, the Build Back Better Act was passed and requires certain estate plan updates. If you need assistance, attorney Lyon can help you review your current estate plan to assess whether your goals can be met under existing legislation or whether you will need to make modifications to achieve your goals.  Consider Your Business’s Relationship to COVID-19 Relief [...]