A new business changes your estate plan, your liability exposure, and your tax picture from day one.
Entity structure, buy-sell agreements, and personal liability protection must be addressed at formation — not after the business has value. At the $2M–$30M level, a new business is often the largest asset added to an already complex estate.
What changes at the $2M–$30M level
Your action plan
Ordered by urgency. Items marked "Immediate" should be addressed within 60–90 days.
LLC, S-Corp, C-Corp, and partnership structures have different liability, tax, and estate planning implications. The choice made at formation is difficult to change.
Find an estate attorney →A buy-sell agreement funded by life insurance ensures business continuity if a partner dies, becomes incapacitated, or wants to exit.
Do this in My Wealth Maps →Who inherits your business interest? Can they actually operate or sell it? Your estate plan must address these questions explicitly.
Find an estate attorney →Entity structure limits but does not eliminate personal liability. Umbrella policies and professional liability coverage fill critical gaps.
Do this in My Wealth Maps →Even a modest new business adds illiquid value to your gross estate. Model the impact on your estate tax exposure.
Do this in My Wealth Maps →How prepared are you for starting a business?
Answer 5 questions and get a personalized readiness score with specific gaps identified.
Get professional help
An estate attorney can execute the legal documents and trust strategies this event requires.
Browse attorneys →A fiduciary advisor can model the financial impact and coordinate strategy across your full picture.
Browse advisors →