Introduction At E-Wealth Partners, we believe in making the insights and knowledge of our network accessible to our clients and the broader business community. This is why we launched the Realize Your Wealth Podcast. Through this platform, we aim to bring valuable conversations with industry leaders directly to you, helping you navigate the complexities of business ownership and financial planning. In This Episode I sat down with Matt Jensen, an estate planning attorney with Fafinski Mark & Johnson, P.A., to discuss critical estate planning considerations for business owners. Matt brings clarity to a topic that can often feel overwhelming, breaking down the essentials for protecting your legacy and minimizing tax burdens. We cover topics including: 1️. The Minnesota estate tax and how it applies to business owners. 2️. Federal estate tax changes and what they could mean for your planning. 3️. Structuring your estate plan to ensure business continuity and minimize tax liabilities. Why This Conversation Matters For business owners, estate planning is more than just a set of documents—it's about ensuring your legacy and protecting your family from unnecessary financial and emotional strain. This episode provides insights into how thoughtful planning can reduce conflict, preserve business value, and navigate tax complexities effectively. Episode Highlights Minnesota Estate Tax: How it works, the $3 million exemption, and why planning for both spouses is essential. Federal Estate Tax: Upcoming changes to the federal exemption and what business owners should prepare for. Revocable Trusts: How assigning your business to a trust can simplify asset management and ensure business continuity. Business Ownership Planning: The importance of determining what happens to your business in case of death or incapacity. Tax Minimization Strategies: Techniques to maximize exemptions and reduce estate tax liability. Family Dynamics: Addressing potential conflict and ensuring fairness among beneficiaries. Key Takeaways for Business Owners Plan Early: Estate planning isn't just for retirees. Start early to avoid unnecessary tax burdens and family disputes. Capture Exemptions: In Minnesota, planning for each spouse's $3 million exemption can save significant taxes. Use Trusts: Assigning your business to a revocable trust can streamline transitions and protect business value. Minimize Family Conflict: Open discussions and detailed plans help avoid misunderstandings among beneficiaries. Stay Flexible: Regularly review and update your estate plan to reflect changes in your business and family situation. Conclusion This episode is an essential listen for business owners looking to protect their legacy and minimize estate tax liabilities. Matt Jensen's practical advice and deep expertise provide actionable steps to create an estate plan that works for you and your family. Enjoy the episode, and reach out to learn how E-Wealth Partners can support your estate planning journey. If you're a business owner ready to take control of your estate planning—Schedule a Free Discovery Call.     Disclaimer: The information on this site is provided "AS IS" and without warranties, either express or implied. To the fullest extent permissible according to applicable laws, SBI Financial Services, LLC (referred to as "E-Wealth Partners") disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability, non-infringement, and suitability for a particular purpose. E-Wealth Partners does not warrant that the information will be free from error. None of the information provided is intended as investment, tax, accounting, or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, or other securities or non-securities offering. This information should not be relied upon for transacting securities or other investments. Under no circumstances shall E-Wealth Partners be liable for any direct, indirect, special, or consequential damages that result from the use of, or the inability to use, the materials provided. In no event shall SBI Financial Services have any liability to you for damages, losses, and causes of action for accessing this commentary. Past performance is not indicative of future results.  

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