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October 4, 2022
Most family-owned businesses are built with legacy in mind; founders want their hard work to pass down through generations. They also want to provide opportunities for other family members to unite around a shared mission. Without an estate plan or succession plan in place, our most valuable asset, family relationships, can be disrupted in an instant.
Unresolved family conflict also rises to the surface and creates a sense of entitlement when a loved one dies, especially if no estate plan exists. (According to a 2022 Wills & Estate Planning Study by Caring.com, only 33% of Americans have an estate plan in place.) In Michigan, without an estate plan in place, state laws will fill the void and create a plan that will unlikely reflect your wishes, and cause greater strain among family members. Clear and detailed plans are crucial to avoid damage to family relationships, shifting the focus to continuing the legacy you have built.
Join us for our final “Legal Strategies for Women Leaders” session of 2022, which will examine how effective succession and estate planning will secure your legacy, and also preserve your greatest asset, family relationships. Moderator and business attorney Mindi Johnson will discuss “effective estate planning and building a legacy” with estate planning attorney Amanda Afton Martin: