If I own a business, how important is it to have a will or trust? Extremely important! It is common for businesses to come to screeching halt when the owner dies, usually because no one has the official authority to operate the business. Sensing the uncertainty, employees may leave, customers may terminate their relationships with the business and the likelihood of your family ever realizing the fruits of your labors could be slim. This should be discussed with your estate planning attorney.
-Attorney Jack N. Alpern