Planning for the future of your business and assets is often overlooked in our daily lives, particularly for those of us who feel young and healthy. However, it is a crucial aspect of any business, regardless of whether your intention is for the business to continue after you or if you plan to retire and close it. As business owners, we cannot always predict what lies ahead, which is why it is essential to have clear directions for ownership and succession planning in place if the need arises.

 

Today, I am joined by Clara Delgado Rossell, founder, and principal of Providence Legal, P.A. With her extensive experience in estate planning, asset protection, trust, and probate administration, she assists clients from diverse backgrounds. During our discussion, Clara will emphasize the significance of estate planning for business owners and share some cautionary tales where inadequate planning led to unfortunate outcomes.

 

What you'll hear in this episode:

[2:40] Who is Clara and how did she get into estate planning?

[4:30] What is estate planning and why is it important?

[9:54] When and how estate planning comes into play in your life and what the differences are from probate administration.

[16:05] What is the recommendation for a business owner as far as estate planning is concerned?

[22:30] Are there any potential benefits to moving assets into other people's names while you are still alive to potentially minimize the tax or estate burden on the beneficiaries?

[29:55] How should you go about picking an estate planning attorney?

 

For complimentary initial consultations: https://calendly.com/claradelgadorossell

Consultations can also be booked directly on her website at: www.providencelegalpa.com

IG: @claramarinara

 

* Related episodes:

Understanding Criminal Tax Activity and The Repercussions with Robert Nordlander

Protecting Your Data Online with Kathy Zant

Should You Pay Quarterly Tax Estimates?

 

Tactical Resources:

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

CFO Power Session: Text POWER to 860-609-6374

See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

 

Additional Resources:

Find everything you need at https://www.keepwhatyouearn.com

Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

Hire us: https://www.fitnancialsolutions.com/accounting

Find me on IG https://www.instagram.com/shannonkweinstein/

Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

 

 

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.