We own a small LLC business and my hubby and myself are traveling out of the country. We don't own our business buildings and my house is not paid off. We own personal vehicles and business vehicles. We do have a durable power of attorney if we get hurt. Question if we were to die together, would it be better to have a living will or a living trust for the life insurance policies, continuation of running our business by our son, and him taking total control of all business affairs and personal matters to be executed?
Answer
If you want a comprehensive estate plan, please see an attorney.
Answer
I strongly agree with the above poster.
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