November 8th, 2022
Micah Bonaviri Talks Estate Planning for Business Owners on ExitReadiness Podcast
Posted in: Estates, Trusts & Probate Tagged: Micah A. Bonaviri
Estates, Trusts & Probate Attorney Micah Bonaviri spoke with Pat Ennis and Walter Dehyle, hosts of the ExitReadiness podcast.
Micah covered a wide range of topics, including:
- Why estate plans need to coordinate with a business owner’s exit plan
- Why strategies that work for some assets in your estate plan may not work for your business
- When it’s a good idea to set up a trust
These topics are more pressing than ever for business owners. According to the 2025 Trust & Will Estate Planning Report—the largest estate planning survey ever conducted, with 10,000 respondents—55% of Americans have no estate planning documents at all, and only 11% have a trust in place. Among high-net-worth individuals, a 2025 Bank of America survey found that 67% of advisors with family business clients hold those interests in trust primarily to preserve family ownership and control, while 60% do so to ensure business continuity rather than distributing ownership among multiple heirs. For business owners, coordinating an estate plan with a broader exit strategy is a critical step that standard personal planning documents rarely address on their own.
