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Most people think estate planning is only for the very wealthy. But, it’s especially important for business owners, since a significant portion of your estate –your family’s source of income after your death – is tied to the business.
Without proper planning to protect your heirs, your death could result in a significant tax liability, which can lead to negative cash flow or even insolvency. Don’t let your legacy and everything you have worked so hard to build be lost to taxes.
Next: Common Estate Planning Tools.