Living trusts are designed to help you determine how and when your business ownership interests will be divided in the event of your death, much like wills do for your personal assets. The trust may also determine a line of succession for your business and dictate which employees are to assume certain roles if you are no longer able to do so yourself. If you are considering establishing a living trust for a small business, you may be wondering how it works, what it means and what steps you will need to take to get the job done.
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