We never know what tomorrow is going to bring. Being prepared for the unexpected is a must, and a comprehensive estate plan is part of that preparation.
I've been off-air for due to an unexpected illness. Please don't wait for things to go wrong before you put a plan in place.
How you will pass on your business is a very important part of Estate Planning. You have worked hard to build your business, and you deserve to make sure that value is passed on to your loved ones.
If you don't have a comprehensive Estate Plan, an unfunded trust can be a really big problem. That comprehensive Estate Plan should include a Pour-Over Will just in case an asset isn't moved into your trust before you die.
Both a Will and a Trust can be the cornerstone of your Estate Plan. However, they each operate at different times and in different ways.