Business Ownership & Estate Planning: Special Concerns for Business Owners – Elder Law Report Featuring Attorney Greg McIntyre

Hey everyone,

Are you a business owner? If so, you won’t want to miss this episode of the Elder Law Report. Greg McIntyre, an elder law attorney, discusses the importance of estate planning for business owners.

McIntyre explains that business owners have unique circumstances when it comes to estate planning. They may be in a partnership, own shares of stock in a closely held corporation, or have a percentage ownership in an LLC. However, many business owners do not consider what will happen to their business interests when they pass away.

To avoid being in business with a partner’s spouse or children, McIntyre suggests setting up an estate plan that specifically names who will receive the ownership interest. Additionally, operating agreements can be created to direct ownership interests to specific individuals upon the owner’s death.

McIntyre also recommends buy-sell agreements, which are funded by keyman life insurance policies, to ensure that ownership interests are bought back by the corporation or LLC upon the death of a partner. This way, the deceased partner’s spouse or children receive fair market value.

McIntyre emphasizes the importance of setting up scenarios that provide multiple wins for business owners. He suggests a buy-sell agreement as a solution that can ensure that if a partner dies, the surviving partner owns 100% of the business, and the deceased partner’s spouse is paid for the value of the shares received.


Listen to the Elder Law Report Podcasts and stay up to date on the latest developments in estate planning:


McIntyre calls this strategy a “Russian nesting doll” approach, which offers multiple layers of liability protection for business interests. He enjoys working with business owners to create business succession plans and transfer assets and ownership efficiently.

In conclusion, if you’re a business owner, it’s crucial to consider estate planning for your business interests. McIntyre offers a free consultation to anyone looking to engage in business and estate planning. As he says, “Don’t put off planning. Planning is key.”

So, don’t wait any longer. Tune in to this episode of the Elder Law Report and learn how to protect your business interests.

Schedule your FREE consultation today by calling: 1-888-999-6600 or online at: mcelderlaw.com.

Greg McIntyre
Estate Planning & Elder Law Attorney
Blog Categories
Get the Latest Updates
Greg McIntyre, JD, MBA

Meet Greg McIntyre

Greg McIntyre, founder of McIntyre Elder Law, is more than just an attorney. As a Navy Veteran, father to six kids, and a loving husband, he values family deeply. This drives his commitment to helping clients safeguard their futures and pass down legacies.

Greg has a passion to help people. Beyond just legal advice, he loves having conversations and strives to build a long-term relationship with every clients that comes through his door.

Connect with Greg

Act now to secure your legacy and protect your loved ones.

At McIntyre Elder Law, we’re dedicated to assisting North Carolina families, seniors, and their loved ones as they plan for the future.

Whether you need to prepare for future long-term care, access Medicaid or nursing home benefits, or need help settling a loved one’s estate, we’re here to support you.

Contact us for a complimentary consultation to take the first steps towards safeguarding your lifestyle, your legacy, and your family’s wellbeing.

Before you go!

The Elder Law Handbook

Your comprehensive guide to safeguarding your financial well-being and ensuring your legacy stands the test of time. Download the FREE handbook today.

By providing your phone number, you agree to receive text messages from McIntyre Elder Law. Message and data rates may apply. Message frequency varies.

Skip to content