Episode 34: Succession Planning for Your Business

No one wants to think about what dying. But this episode of This Week In Weddings is all about planning ahead for what would happen to your finances (both personal and business) and assets if you were to die or become incapacitated while running your wedding business. We're talking to attorney Ashley McMillan of The McMillan Firm about business succession planning and estate planning, including topics such as wills, trusts, buy-sell agreements, power of attorneys, and more. About our guest:  Ashley McMillan graduated from Wake Forest University in 2005 with a Bachelor of Arts in Political Science and a Bachelor of Arts in Psychology. She earned her J.D. from Texas Tech University School of Law in 2008.  After working at a firm for three years, Ashley decided that by starting her own practice, she could have a greater and more positive impact on her clients in her legal career. In 2011, Ashley founded The McMillan Firm, P.C. Since then, the firm has focused its efforts on helping people with practical, every day issues: wealth management, asset protection, passing of assets, business succession planning, estate administration, corporate formation and corporate transactions. The McMillan Firm, P.C. has given Ashley the opportunity to pursue her passion in these areas. In this episode, listeners will hear about: What a will is and why you need one The ins and outs of trusts Why sole proprietorships are not a good idea How "Pay on Death" or "Transfer of Death" policies can help your family or business partners Ways to transfer your business to someone upon your death or incapacitation, including buy-sell agreements How to go about finding an attorney to help with estate planning or business succession planning Want to connect with Ashley? http://www.mcmillanpc.com Phone: (214) 217-4472