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Ep #022: 12 Estate Planning Essentials Thumbnail

Ep #022: 12 Estate Planning Essentials

Do you have a plan for what would happen to your family, business and employees if you were to suddenly pass away? Estate planning is an essential part of the financial planning process. It can help you protect your assets, minimize your tax burden and make sure that your wishes are carried out well after your passing. By setting up a plan, you can make sure that your heirs receive the maximum benefit from your estate and that your business (and all of your employees) can continue to run even without you being there any longer. So, in this episode, Tom will be sharing how to set your business and your estate up for success in the unlikely and unfortunate event that you pass away unexpectedly.

Listen in as Tom explains what a buy-sell agreement is, how this can be helpful for your co-owners if you pass away and why you should review this document frequently. You will learn why you should keep your important documents in a fire and water-safe box, the importance of updating your beneficiary designations and how to relieve your family of the stress of making big decisions when you’re no longer around.

Listen to the full episode:

What You’ll Learn:

  • The hard planning that needs to be done for your estate planning.
  • What a buy-sell agreement is.
  • The importance of reviewing your buy-sell agreement frequently.
  • Why it is essential that you have a will.
  • The benefit of keeping a document with a list of your accounts.
  • Where you should keep all of your important documents.
  • What a business inventory and assets list is.

Ideas Worth Sharing:

  • “Life is short and most of us put off the hard planning that needs to be done.” - Tom Poltersdorf  
  • “If you have a buy-sell agreement, I recommend you review and update this frequently.” - Tom Poltersdorf  
  • “Give yourself peace of mind and get your estate planning done.” - Tom Poltersdorf  


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