Estate Plan Checkup — How to Avoid Disputes in a Closely Held Business
Lane Powell Shareholders Dawn Spratley and Gail Mautner co-authored an article in Seattle Business magazine’s December issue titled “Estate Plan Checkup — How to Avoid Disputes in a Closely Held Business.” In the article, Spratley and Mautner discussed how careful planning can help businesses avoid disputes.
So, your will or living trust is completely signed (finally!) and you have your durable power of attorney and your health care directive taken care of. Are you finished with your estate planning? Maybe not … If part of your estate is an interest in a closely held business, make sure that the internal affairs of the business and the agreements with your business partners are taken care of so that transition of your ownership and/or management of the business will be as smooth as possible.