Dear Business Owner,

You’ve built a thriving business, one that provides for your family and carries your legacy forward. But when the time comes for someone else to take the reins—whether due to your passing or incapacity—everything you’ve worked so hard for could be at risk if the wrong person is chosen to step into that role. The reality is, choosing the right executor or trustee for your business is one of the most critical decisions you’ll ever make. Get it wrong, and the consequences could be devastating.

What’s at Stake?

Picture this scenario: You’ve named an executor or trustee without fully considering their qualifications, experience, or understanding of your business. They step in, overwhelmed by the responsibilities, making decisions that could hurt the company. Maybe they don’t have the knowledge to navigate complex financial issues, or perhaps they’re unable to manage relationships with key employees and clients. In the worst-case scenario, they might make decisions that lead to the business’s decline or even its failure.

Without the right person in charge, your business could lose value, employees might leave, and clients could lose confidence. Family disputes could arise if your heirs disagree with the decisions being made. What was once your proudest achievement could quickly turn into a source of stress, conflict, and financial loss for your loved ones. The wrong choice could lead to prolonged legal battles, draining your estate and leaving your family with far less than you intended.

The Reality of Choosing an Executor or Trustee

The truth is, not everyone is equipped to handle the complexities of managing a business, especially during a time of crisis. It’s not just about picking someone you trust—it’s about choosing someone with the skills, knowledge, and temperament to make sound decisions under pressure. The stakes are high, and the wrong choice could undo everything you’ve built.

Many business owners make the mistake of naming a family member out of a sense of obligation without considering whether that person is truly capable of managing the business. Others might choose a close friend or a trusted advisor, only to find out too late that they lack the necessary expertise. The solution is to take the time to carefully evaluate potential candidates, considering not just their relationship with you but their ability to protect and grow your business.

The Solution: Expert Guidance in Choosing the Right Person

This is where Bascom Law comes in. I’m Mike Bascom, and I’ve spent 35 years helping business owners like you make the right choices when naming executors and trustees. I understand the gravity of this decision, and I’m here to help you navigate it with confidence.

We start by understanding the unique needs of your business and your family. We work with you to evaluate potential candidates, considering their experience, their understanding of your business, and their ability to handle the responsibilities of the role.

We help you identify the qualities that are most important in an executor or trustee. This might include business acumen, financial expertise, leadership skills, and the ability to make tough decisions. We also consider the candidate’s relationship with your family and employees, as well as their willingness to take on the role.

Next, we guide you through the process of vetting potential candidates. We ask the tough questions you might not have thought to ask. Does the candidate have the time and energy to devote to managing the business? Do they have the temperament to handle conflicts and make difficult decisions? Are they prepared to carry out your wishes, even if it means making unpopular choices?

Finally, we help you document your choice in a way that leaves no room for confusion or disputes. We create clear, legally binding documents that outline the duties and responsibilities of the executor or trustee, ensuring that your business is managed according to your wishes.

Don’t Leave Your Business’s Future to Chance

You’ve worked too hard to let the wrong choice of executor or trustee put your business at risk. The time to act is now. Don’t wait until it’s too late to ensure that the right person is in place to protect your legacy. At Bascom Law, we’re here to help you make this critical decision with confidence, so you can rest easy knowing that your business is in good hands.

Call my office today at 770-285-5493 to schedule a consultation. Let’s sit down together and start planning for the future of your business. Your legacy deserves the best protection, and at Bascom Law, that’s exactly what we offer.

Sincerely,

Mike Bascom
Bascom Law, PC
Estate Planning & Elder Law