06/17/26 - Business and Estate Planning pt.5
Jun 17, 2026 · 28 min · 10 segments
Business and Estate Planning pt.5
- Speakers
Paul GrantHost
Mark HollandHost
Jun 17, 2026 · 28 min · 10 segments
Business and Estate Planning pt.5
Paul GrantHostMark HollandHost
It could be something as simple as we use the piano teacher example in a lot of our different discussions.
I don't know what widgets are, but they can produce something, right? And everything in between.
And business owners have a difficulty, and specifically with estate planning, there's a how they manage their business, and what their future vision is.
And so we've talked about the different types of business structures that people could have.
Nowadays, most individuals would lean into what we call a limited liability company or an LLC.
So they'd be what we call a sole proprietor, someone who just does their work, all the money then comes to them personally.
Or, Mark, if you and I had a business together, but we didn't have a legal entity around us, well, then that's called a partnership.
You and I would work it together, and then we would ultimately split the profits or expenses, and we would each go to our own 1040s as well.
So there's many different structures, and we've talked about those different structures and how they possibly work.
Even maybe the most common business that I see with my clients is someone has an additional property that they rent.
You have a business because you are in the business of being a landlord, even if it's just with one additional property.
And we talked about some of the possibilities of what that means to put that into an LLC and get some protections around that and what does it mean to have protections.
It could be something as simple as we use the piano teacher example in a lot of our different discussions.
I don't know what widgets are, but they can produce something, right? And everything in between.
And business owners have a difficulty, and specifically with estate planning, there's a how they manage their business, and what their future vision is.
And so we've talked about the different types of business structures that people could have.
Nowadays, most individuals would lean into what we call a limited liability company or an LLC.
So they'd be what we call a sole proprietor, someone who just does their work, all the money then comes to them personally.
Or, Mark, if you and I had a business together, but we didn't have a legal entity around us, well, then that's called a partnership.
You and I would work it together, and then we would ultimately split the profits or expenses, and we would each go to our own 1040s as well.
So there's many different structures, and we've talked about those different structures and how they possibly work.
Even maybe the most common business that I see with my clients is someone has an additional property that they rent.
You have a business because you are in the business of being a landlord, even if it's just with one additional property.
And we talked about some of the possibilities of what that means to put that into an LLC and get some protections around that and what does it mean to have protections.
The rest of this transcript — segmented and speaker-labeled, so you land on the exact moment something was said
Search every transcript — by keyword, by phrase, or by meaning, across every show Radar indexes
Trends — what is surging across podcasts, measured against its own baseline
Alerts — when a name you follow appears in a newly indexed episode
No account is needed to search Radar.
