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Is the Family Business a Part of Your Estate Plan?  Elder Law Attorney Woodstock, Georgia

Is the Family Business a Part of Your Estate Plan? Elder Law Attorney Woodstock, Georgia


Family business contributes to over 70 percent of global productions, but owners of them don’t
update their estate planning. It’s estimated that over 50 percent of family business owners didn’t update their estate planning documents for more than five years. Perfect and updated family planning ensures the smooth transition of a property from one generation to other while exploiting many tax benefits as well.

A recent article in Money Times, “Updating estate plans need of the hour for family business owners,” warns that estate planning becomes old or outdated after just a few years. In addition, family situations and relationships between family members, business matters, net worth, and other factors can and will change anytime or over a period of time.

That’s why you need to have an estate plan review on a regular basis. Regardless how complex an estate plan is, it’s better to work on a customized estate plan now. This will make certain that your family business passes from one generation to the next without disputes that may further damage its possible growth. In the alternative, estate planning can also be used to offload the family business at a fair price deal.

Many family business owners aren’t aware of charitable planning and charitable gifts. More than 50% of family business owners aren’t exploring these options and their tax benefits.

Because the tax laws change frequently, family business owners need to work with their estate planning attorneys and take advantage of any new strategies to legally avoid estate taxes, gift taxes and other taxes.

After speaking with an attorney, some family business owners find that they’re richer than they thought once their estate plan is drawn up. Estate planning is critical for the inheritance to control the assets and minimize the tax imposed by both your state and the federal government.

Talk with a qualified and experienced estate planning attorney so you are placing your business in the best possible condition when you pass it to the next generation.

Reference: Money Times (September 18, 2015) “Updating estate plans need of the hour for family business owners”

Hear From Our Clients
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“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”

- Bonnie

Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.

- Hope

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce