When choosing an executor, most people focus on one question:rnrnWho do I trust?rnrnTrust is certainly important. However, there is another consideration that many families overlook: Where does your executor live?
Reena Gulati Blog
One of the most common misconceptions in estate planning is that creating a trust automatically avoids probate.rnrnIt doesn't.rnrnIn fact, I regularly meet families who are surprised to learn that a loved one had a trust, paid for a trust, signed a trust—and yet their estate still requires probate proceedings in Surrogate's Court.rnrnHow does that happen?
Most people assume that Special Needs Trusts ("SNTs") are only for families raising a child with a significant disability. In reality, many families encounter special needs planning unexpectedly—and often much later in life than they anticipated.rnrnAs an estate planning attorney, I frequently meet clients who have thoughtfully addressed guardians for minor children, asset distribution, retirement accounts, and tax planning. Yet one question often remains unanswered:
In Parts 1 and 2, we reframed succession planning as a business survival strategy and not a “someday” project. We walked through the most common mistakes that quietly derail otherwise strong businesses. Now let’s talk about what a good plan actually looks like.
Most business owners don’t avoid succession planning because they’re careless. They avoid it because the business is busy, the future feels far away, and talking about it feels uncomfortable.rnBut succession planning rarely becomes urgent on your schedule.rnIt becomes urgent when someone gets sick. When a partner wants out. When a key employee leaves. When a buyer shows up with a real offer. Or when something happens that no one wants to imagine, and suddenly the business is expected to keep running anyway.
