Mike AndesFounder, Augusta Lawn Care and Homeworks · Founder of Homeworks and Augusta Lawn Care

Your business dies with you and it only cost $5K to fix

18 May 2026 · 1 min

Watch on YouTube

1:10

In this YouTube discussion, Mike Andes and a co‑host explain why business owners—especially those with modest‑size companies (e.g., $1 M revenue, 5‑10 employees) and families—should invest a few thousand dollars in proper estate planning. They argue that a $4‑$6 K attorney fee to set up a revocable trust (and related structures like life‑insurance trusts) can protect the business from probate, allow the owner to take more operational risk, and enable tax‑free wealth transfer to heirs. The speakers reference Qualified Small Business Stock (QSBS) benefits, illustrating how moving assets into a trust can lock in appreciation that passes to children tax‑free (e.g., $5 M growing to $40 M). They stress that without these protections, an unexpected death could leave the business frozen in probate, jeopardizing the family’s financial security. The tone is conversational and persuasive, urging listeners to act now rather than wait for a crisis.

Chapters

I think for people listening, it's like we're talking about like QSBS and tens of millions of dollars, et cetera. But like if you have a million-dollar business and you got 5 or 10 employees and you have a couple kids, like this is something to think about. $4,000, $5,000, $6,000 from a good attorney can walk you through setting up the trust and set up protections so that you can almost take more risk in a way, I feel like, because you're not always this cloud over your head. Like if I get hit by a bus, everything's gone. My kids aren't gonna be taken care of. What's gonna happen to them? Obviously having things like life insurance is helpful, because the money can get— can move pretty quick. You don't want your business locked up in probate. And I don't think it's talked about enough of how often that happens.
Way back, Will, and then I, you know, got more advanced and did the trust thing. And I've believed in this for a long time. And I highly encourage almost, almost everybody to frankly do it. If you're a business owner, you think you're gonna have any level of success. But the idea here is that you can move assets into these trusts. Still control them, still live off the assets, but that money is locked away that when you die, it'll pass to your kids tax-free and all the appreciation will pass tax-free. And if you moved $5 million into it and it grew into $40 million, the $40 million would go tax-free to your kids.