Today on PowerTips Unscripted, Thomas Croessman joins the show to discuss the need for small business owners to plan for their company’s transition in their estate plan. While your business might be humming along now, how will it perform if you’re not around? Unfortunately, most small businesses only survive the first generation because of estate planning and communication failures. Thomas explains Wills, Powers of Attorney, and Trusts, when those documents become effective. He also gives some practical tips to help the transition go smoothly.
Thomas Croessmann is the Managing Partner of Croessmann & Westberg, P.C., a construction law firm in the DC area. The firm is a full-service law firm for construction contractors.
Thomas, Victoria, and Mark talk more about:
- What is an Estate Plan?
- What is Power of Attorney, and when is it used?
- And more…