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Life event
Business Growth: what to review in your estate plan
As a business grows, so does the share of your wealth, and your family’s income, that depends on it. Without a plan, a death or disability can freeze the business at the moment it is most vulnerable.
Worth reviewing
- Who runs the business if you cannot, and who owns it afterward
- Operating or shareholder agreements, and buy-sell terms with partners
- Whether business interests should be held in a trust
- Key-person and life insurance to fund a transition
- A financial power of attorney that covers business decisions
Documents to look at first
For this life event, these are the documents most often affected. Your own list depends on your family and what you have already signed.
- Business agreements and succession plan
- Revocable living trust
- Financial power of attorney
- Life and disability insurance
- Your will
When to act
At each milestone.
Related life events
Not sure where your plan stands?
A consultation is the place to talk through what has changed and what to update first. Nothing is finalized until we have talked.
This page is general information about Illinois law and is not legal advice. It does not create an attorney-client relationship. See the Disclaimer. Last updated October 2026.