A young entrepreneur with dreams even bigger than mine reached out.

He’s single, working 80+ hours a week, and needs to make sure that everything he’s working for is safe if something were to happen to him.

Oh, and he has millions of dollars in real estate held by half a dozen companies.

That means his monthly bills coming in and out are in the tens of thousands of dollars with multiple accounts all over the place.

His main concern? How does he make sure that he can still pay those bills if here in a coma tomorrow?

I sat him and his business partner down; we had to make sure that he and his companies allowed the transfer of wealth to others if something were to happen. We also had to make sure someone else could run the companies in case something were to happen.

It was complex stuff; reviewing company agreements, drafting wills and powers of attorney, and making sure all the documents worked together in the appropriate manner.

But, in the end, we got it done.

This young entrepreneur can now focus on crushing it rather than worrying about what happens if he can’t pay his companies’ debt bills that pop up every month.

If you own a company, it’s a serious concern as to who can take over both before you pass away (but are unable to run the company), or if you were to pass away suddenly.

A business succession plan mixed with an estate plan can address these concerns. And, at Legion Law, we do exactly that and more.

Feel free to reach out if you have any business succession or estate planning needs! We’re always more than willing to help.

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