Why Every Business Owner Needs a Will, And How to Get Yours Fast

Listen up, business owners. If you don't have a will, you're playing Russian roulette with everything you've built. That company you've poured your blood, sweat, and tears into? Without a will, it could end up in the wrong hands, or worse, tied up in legal limbo while your family fights over scraps.

Here's the brutal truth: 73% of Americans don't have a will, and business owners are often the worst offenders. They'll spend months perfecting their business plan but won't spend a weekend protecting what they've created. Don't be that person.

The Nightmare Scenario (And It's More Common Than You Think)

Picture this: You're a successful business owner in Missouri. You've built a thriving company, have employees depending on you, and a family you love. Then boom, heart attack, car accident, whatever. You're gone, and you never got around to writing that will.

Now what happens? Your business becomes a legal mess. Your spouse doesn't automatically inherit your business assets like you might think. Instead, a judge who's never met you gets to decide who runs your company and how your assets get divided. Your business partner might find themselves in court fighting your family. Your employees lose their jobs because nobody knows who's in charge.

This isn't fiction, it happens every single day across America.

Without a will, state laws take over. In Missouri, if you die without a will and you're married with kids, your spouse gets half and your children split the other half. Sounds fair, right? Wrong. What if your kids are minors? What if your spouse doesn't know how to run the business? What if your business requires specific expertise to operate?

The state doesn't care about these details. It just follows a one-size-fits-all formula that probably doesn't fit your situation at all.

Why Business Owners Face Unique Risks

Regular folks need wills, but business owners need them desperately. Here's why:

Your Business Is Your Biggest Asset

For most business owners, their company represents 60-80% of their total wealth. If you own a roofing company, a restaurant, or any other business, that's likely where most of your money is tied up. Without a will specifically addressing business succession, that asset could become worthless overnight.

You Have People Depending on You

It's not just your family, you've got employees, customers, suppliers, and maybe business partners all counting on your business to keep running. When you die without a plan, you're not just screwing over your family; you're potentially destroying the livelihoods of everyone connected to your business.

Business Assets Are Complex

Your business might have equipment, inventory, contracts, intellectual property, and ongoing relationships that can't just be split up like a savings account. These assets need specific handling, and a will lets you spell out exactly how that should happen.

The Real Benefits of Having a Will (Beyond Just "Peace of Mind")

You Control Your Business's Future

With a will, you get to decide who takes over when you're gone. Want your business partner to buy out your share? Write it in the will. Want your spouse to sell the business and live off the proceeds? Document it. Want your kid who's been working in the business to inherit your share? Make it official.

You Protect Your Family from Legal Hell

Without a will, your family could spend months or even years in probate court. During that time, your business might be frozen, unable to make major decisions or access certain accounts. With a proper will, you can streamline this process and get your family the resources they need quickly.

You Minimize Taxes

Here's something that might shock you: estate taxes can eat up to 40% of your business value if you're not prepared. A well-crafted will, combined with other estate planning tools, can legally reduce these taxes and preserve more wealth for your family.

You Designate Guardians for Your Kids

If you have minor children and both you and your spouse die, a judge will decide who raises your kids. Do you really want to leave that decision to someone who doesn't know your family? A will lets you name guardians who share your values and will raise your children the way you'd want.

How to Get Your Will Done Fast (No More Excuses)

The biggest reason business owners don't have wills? They think it's complicated, expensive, and time-consuming. That used to be true, but not anymore.

Skip the Expensive Attorney (For Now)

Look, eventually you might want a high-end estate planning attorney to review everything. But if you don't have a will right now, getting a basic one is infinitely better than having nothing. You can always upgrade later.

Online services have revolutionized will creation. You can literally have a legally valid will in under an hour for less than what you'd spend on a business lunch.

Get Started Today

The fastest way to protect your business and family is to use a service that specializes in quick, affordable wills. FastWill offers a streamlined process that's perfect for busy business owners who need results fast.

Here's what makes it work:

• Simple questionnaire that walks you through all the important decisions

• Legally valid documents that work in all 50 states

• Quick turnaround so you're protected within days, not months

• Affordable pricing that won't break your business budget

Before You Start, Gather This Info:

1. List of all your assets (business interests, real estate, bank accounts, investments)

2. Names and contact info for your chosen executor and backup

3. Guardian preferences if you have minor children

4. Specific wishes for your business (sell it, transfer it, close it)

5. Beneficiary details (who gets what and when)

Having this information ready will make the process even faster.

Don't Fall Into These Common Traps

Trap #1: Thinking a Handwritten Will Is Good Enough

Unless you're a lawyer, don't try to write your own will. About 60% of handwritten wills get challenged in court because they're unclear or don't meet legal requirements.

Trap #2: Forgetting to Update Your Will

Your will should be reviewed every 3-5 years or after major life changes. Got divorced? Had another kid? Sold a business? Your will needs to reflect these changes.

Trap #3: Not Telling Anyone Where It Is

The best will in the world is useless if nobody can find it. Keep the original in a safe place and make sure your executor knows where it is.

The Bottom Line: Stop Procrastinating

Every day you don't have a will, you're gambling with your family's future and your business legacy. The statistics are sobering: only 42% of adults have estate planning documents, and business owners are often the worst procrastinators despite having the most to lose.

Here's what happens if you keep putting this off:

• Your business could be forced to shut down while courts sort out ownership

• Your family could lose most of your wealth to taxes and legal fees

• Your employees could lose their jobs

• Your spouse could be left fighting legal battles instead of grieving

• Your children's future could be decided by strangers

The solution is simple: Get your will done today. Don't wait for the "perfect time" or until you have everything figured out. A basic will that covers the essentials is infinitely better than no will at all.

Your business didn't build itself overnight, but your will can be finished today. Stop making excuses and start protecting what matters most.

Article by Marcus Steele, Amerishop Services

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Ready to Protect Your Business? Don't let another day pass without a will. Start your will now with FastWill and have peace of mind by this weekend.