Keeping a business profitable is probably one of the toughest questions facing a business owner. Indeed, the business may be thriving today, or this year, but ensuring the continuing viability takes planning, especially if you don’t plan on being in the business forever. With that said, succession planning should be an essential part of business planning.
"Follow the money."
To say that a common core of estate planning considerations and strategies is equally applicable for both heterosexual and same-sex couples, respectively, is an obvious oversimplification.
Sometimes a would-be estate planner in California or elsewhere knows exactly who they want to leave their estate to, but is fuzzy on the details regarding asset distribution, timing considerations, trust specifics and additional concerns.