Katie Krispin, founder of Katie Krispin Law, reveals why estate planning isn't just for the wealthy or elderly—it's a critical business protection strategy that most entrepreneurs ignore until it's too late. Through real-world stories, including three young children who lost their mother without a plan, Katie explains how proper estate planning protects your business during incapacity (which affects 67% of people before death), avoids probate court delays of 12-18 months, and can save millions in taxes. She breaks down the difference between trusts and wills, debunks common misconceptions, and explains the four core documents every business owner needs: financial power of attorney, healthcare power of attorney, last will and testament, and revocable living trust. Katie emphasizes that estate planning is an ongoing process that should grow with your business, not a one-time event you handle at the end of life. She shares how recent tax law changes affect the $15M federal estate tax exemption and why starting the conversation now—even in 90-day sprints—can protect both your business and the people you love.

Chapters:

• (00:00:00) - Introduction and overview of estate planning for business owners
• (00:02:15) - Why business owners struggle with long-term planning and the 90-day sprint mindset
• (00:04:45) - Estate planning as an ongoing process, not a one-time event
• (00:07:20) - The Sam Walton story: How early estate planning saved billions in taxes
• (00:09:10) - The tragic story of three young kids who lost their mom without an estate plan
• (00:12:30) - Common misconceptions: Trust vs Will explained
• (00:15:45) - Recent tax law changes and the $15M federal estate tax exemption
• (00:18:20) - The four core documents every business owner needs
• (00:21:40) - Incapacity planning: 67% of people become incapacitated before death
• (00:24:15) - How to get started: Education and taking action

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• Katie Krispin on LinkedIn
• Amplafy Media
• Hector Santiesteban on LinkedIn
• Hector Santiesteban on Twitter