• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • WHO WE ARE
    • About Our Firm
    • Attorney and Staff Profiles
    • News and Events
  • Areas We Serve
    • Essex County, MA
      • Andover
      • North Andover
    • Hillsborough County, NH
      • Manchester
      • Nashua
    • Middlesex County, MA
      • Concord
      • Lexington
      • Wakefield
      • Winchester
      • Woburn
    • Rockingham County, NH
      • Exeter
      • Londonderry
      • Salem
  • Services
    • Asset & Business Planning
    • Elder Law & Medicaid Services
    • Estate And Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Loss Of A Loved One
    • Pet Planning
    • Power Of Attorney
    • Probate and Trust Administration
    • SECURE Act
    • Special Needs Planning
    • Young Families
  • Elder Law
    • Coping with Alzheimer’s
    • Hospice Care
    • Medicaid Planning
    • Nursing Home Planning
  • Resources
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder law reports
      • Elder Law Resources
        • Elder Law Resources – Londonderry, New Hampshire
        • Elder Law Resources North Andover, Massachusetts
        • Nashua, New Hampshire Elder Law Resources
        • Woburn, MA Elder Law Resources
    • Estate Planning
      • Estate Planning Articles
      • Estate and Gift Tax Figures
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
    • Frequently Asked Questions
      • Asset Protection Planning
      • Business Planning
      • Charitable Gifting
      • Estate Planning
      • Elder Law
      • Frequently Asked Questions for Families Without an Estate Plan
      • Incapacity Planning
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Trust Administration & Probate
      • Wills and Trusts
    • Newsletters
    • Pre Consultation Form
    • Presentations
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss Of A Loved One
      • Probate Resources
        • Nashua, New Hampshire Probate Resources
        • Probate Resources – Londonderry, New Hampshire
        • Probate Resources – North Andover, MA
        • Probate Resources – Wakefield, Massachusetts
        • Woburn, MA Probate Resources
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
    • Published Books
  • Live Seminars
    • Online Seminars
    • In-Person Seminars
  • Videos
  • Contact Us
  • Blog
  • Reviews
    • Our Reviews
    • Review Us

DeBruyckere Law Offices, PC

Serving Southern New Hampshire & Essex Country, Massachussetts

Call us today(603) 894-4141

(978) 969-0331

Online Seminars
Attend Free Seminar
Home » Estate Planning » Estate Planning for NH Small Business Owners

Estate Planning for NH Small Business Owners

September 23, 2013Estate Planning

nh small business owners

Small business owners are the heart of the American economy. When every other sector is struggling, it’s the small businesses that keep on keeping on – regardless of how high unemployment is or how frustrating the new healthcare laws are. Unfortunately, they’re also the ones most likely to find themselves struggling to understand the intricacies of estate planning. There are specifics associated with covering those bases – and one forgotten detail can change everything. For many NH small business owners, meeting with an estate planner can make a world of difference.

These are a few of the important details a small business owner faces. Many of these contingencies can feel a bit overwhelming, but all are important. You’ll want to meet with an estate planning attorney in New Hampshire to ensure your own unique bases are covered.

The Reality for NH Small Business Owners

One of the biggest fears small business owners face is the reality if they are unable to conduct business, it fails. You’d be surprised at how few small businesses have more than one person who knows the business dynamics in their entirety. Naturally, an unexpected illness or injury is enough to keep many awake at night.

By naming someone to pick up the pieces should you become ill or otherwise incapacitated, you’re putting into place a more proactive game plan versus finding yourself reacting to the emergency. An advance directive, which includes two documents, will often serve your purposes nicely.

Living Will

A living will names someone you trust to make medical choices should you be unable to do so. That includes making the decision to withdraw any type of life support if you’re diagnosed with a terminal illness (provided, of course, you are not able to make your own wishes known). These aren’t unique to small business owners, but they’re good to have and can help protect everything you’ve worked so hard to build.

Durable Power of Attorney

The durable power of attorney allows another person you trust, referred to as an “agent”, to manage your business should you become incapacitated. The living will allows you to name someone to make medical choices, but your durable power of attorney allows someone to make your business decisions. There doesn’t have to be one person named for both; in fact, it’s rare that it unfolds that way.

You can also instruct your estate planning lawyer to hold the durable power of attorney and release it only if it’s ever needed. This is something you and your legal team will work out. Often, though, our clients have it stipulated that a letter from the doctor, explaining that they are incompetent, should serve as proper notification.

Awkward Conversations?

Let’s be honest – these are difficult topics to bring up. It’s not like you can announce, as your wife is passing the salad dressing over dinner, that you need to discuss end of life issues and the state of your business, but make no mistake: as awkward as the conversations are, they are absolutely crucial and can make a huge difference in how your family is able to cover the bases in the event of your death.

Any estate planning attorney will encourage you to not underestimate the role of ethics in your decisions: when you name someone to handle either of these great responsibilities you want to be able to trust they will have no ulterior motives. If, say, you are a furrier with a collection of fur coats, you might not want to name your brother in law, who’s an avid supporter of PETA, to oversee your business transactions. It’s not that you don’t trust him, but you don’t want to put him in the position of going against his own ethics and moral beliefs.

As always, we strongly encourage anyone – whether they’re small business owners or educators or bank presidents – to ensure a solid relationship with an estate planning firm is in place. It’s the only way you’ll be able to close your eyes at night and rest easy knowing it’s one fire that won’t have to be put out.

  • Author
  • Recent Posts
Daniel DeBruyckere
Daniel DeBruyckere
Attorney Daniel A. DeBruyckere has been practicing law in New Hampshire and Massachusetts since 1998, and has helped hundreds of clients with their estate planning and elder care issues. He is very well respected in the area of estate planning, probate, trust administration, elder law issues, and business planning.
Daniel DeBruyckere
Latest posts by Daniel DeBruyckere (see all)
  • Concerned about Leaving a Large Inheritance? A Trust May Be the Solution - January 19, 2021
  • If You Are a Parent Estate Planning Is Essential - January 14, 2021
  • Is It Too Late for Medicaid Planning to Help Me? - January 12, 2021

Other Articles You May Find Useful

What Is an Incentive Trust?
Providing for Your Spouse If He/She Is Not a Citizen
DeBruyckere Law Offices, PC | Estate Planning & Medicaid Attorneys
Estate Planning — 3 Mistakes to Avoid
What the 2020 Election Could Mean for Your Estate Plan
A Time for Thanks and Community
Fair Isn’t Always Equal and Vice Versa

DeBruyckere Law Offices, PC

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Subscribe to Our Newsletter

Please fill out the form below:
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube

Blog Subscribe

  • This field is for validation purposes and should be left unchanged.

Testimonials

I felt complete trust and confidence in Dan DeBruyckere and his staff. They have a caring, low-key approach and there is no pressure to add products to the estate plan; rather he makes me aware of changes in the law, etc. I always learn something new to assist me in our planning!

LN

Your seminar was the only seminar we attended without financial advisors wanting to invest our money instead of protecting it! The information this firm provided was easy to understand even though it is a difficult topic. Thank you for all of your help!

HR

We both felt so comfortable in they way our Estate Planning was handled. We felt like someone was watching out for our best interest. Everyone we worked with at the firm was thorough, and explained everything in a way where we could walk away feeling like everything was complete.

RS

A truly great experience all the way through. Felt like we were a part of the family! Thank you.

LW

We could not have picked a more qualified law firm. Everyone that we came in contact with made us feel at ease.

Happy Client

We were very impressed with the statements put forth by Dan at the Seminar. We were impressed even more by their down to earth approach and the efficiency they accomplished it all.

Charles

Londonderry Office

Londonderry Office
One Verani Way
Londonderry, NH 03053
Phone: (603) 894-4141

See Larger Map Get Directions

Nashua Office

Nashua Office
76 Northeastern Boulevard, Unit 31B
Nashua, NH 03062
Phone: (603) 894-4141

See Larger Map Get Directions

North Andover Office

North Andover Office
231 Sutton St, Suite 1B
North Andover, MA 01845
Phone: (978) 686-4645

See Larger Map Get Directions

Woburn Office

Woburn Office
444 Washington Street, Suite 503
Woburn, MA 01801
Phone: (978) 969-0331

See Larger Map Get Directions

By Appointment Only

BEVERLY OFFICE

Beverly Office
900 Cummings Center Suite 204-U
Beverly, MA 01915
Phone: (978) 969-0331

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Map

dadlawoffices_sidbr_map
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
footer-logo

© 2021 DeBruyckere Law Offices
All Right Reseved.

Attorney Advertisement

© 2021 American Academy of Estate Planning Attorneys, Inc.