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In this video I describe five reasons why - if you own a business - you may want to strongly consider getting your estate legal affairs in order. So small businesses are the backbone of the American economy. Many new businesses are formed every day and estate planning allows you to control what happens to your business when you die or are no longer able to run it.

And whether you are a member of an llc, a shareholder in a privately held corporation, or even if you just have a sole proprietorship, there are five reasons why business owners should take action to protect their business, their family, and their estate.

0:00 Business Owners Need Estate Planning
0:43 You Want to Bequeath Your Business To Particular People
2:18 Leave Your Business in a Trust for Centralized Management
3:07 Keep Your Business Out of Probate
4:13 Legal Problems When Business Owner Becomes Incapacitated
5:21 Avoiding Gift and Estate Taxes
6:11 Other Reasons Entrepreneurs Should Engage in Estate Planning