Many small business owners form a single-member LLC because it is simple, flexible, and provides personal liability protection. However, too often, they overlook one of the most important documents for their LLC: the Operating Agreement. Without an Operating Agreement, it is easier for someone to argue that your LLC is a “sham” or an “alter ego.” An operating agreement strengthens the shield that protects your personal savings, home, and other assets from business risks.

Money and property may be the most discussed types of wealth a person owns, but the riches of their experience and wisdom can mean even more to loved ones. Reinforcement of family traditions can be built into your estate plan alongside your wishes regarding the distribution of your money, property, and belongings. After all, what makes a family is its values and traditions—not the finances left behind.

Estate planning is opportunity to leave behind something far more valuable than money—your wisdom, values, and hopes for your loved ones.