--- title: "Estate Planning for Business Owners | Legacy Counsel" description: "Buy-sell agreements, succession planning, and estate strategies for closely held business owners in NY, NJ, and OH." lang: en json-ld: | [ { "@context": "https://schema.org", "@graph": [ { "@type": "LegalService", "@id": "https://jacobslegacycounsel.com/#legalservice", "name": "Jacobs Legacy Counsel", "alternateName": [ "Legacy Counsel by Jacobs Counsel", "Jacobs Legacy" ], "url": "https://jacobslegacycounsel.com", "description": "Fixed-fee estate planning for high-net-worth families, founders, executives, and professional athletes. Licensed in New York, New Jersey, and Ohio.", "logo": "https://jacobslegacycounsel.com/logo-dark.jpg", "image": "https://jacobslegacycounsel.com/og-image.jpg", "telephone": "+1-646-343-7227", "email": "intake@jacobscounsellaw.com", "priceRange": "Fixed-fee engagements", "address": { "@type": "PostalAddress", "streetAddress": "221 River Street, Floor 9", "addressLocality": "Hoboken", "addressRegion": "NJ", "postalCode": "07030", "addressCountry": "US" }, "areaServed": [ { "@type": "State", "name": "New York" }, { "@type": "State", "name": "New Jersey" }, { "@type": "State", "name": "Ohio" } ], "knowsAbout": [ "Estate planning", "Revocable living trusts", "Irrevocable trusts", "Dynasty trusts", "Asset protection planning", "Generation-skipping transfer tax planning", "Estate planning for professional athletes", "Estate planning for founders and executives", "QSBS planning", "Pre-liquidity estate planning", "Probate and trust administration" ], "contactPoint": { "@type": "ContactPoint", "telephone": "+1-646-343-7227", "email": "intake@jacobscounsellaw.com", "contactType": "client intake", "areaServed": [ "US-NY", "US-NJ", "US-OH" ], "availableLanguage": [ "en" ] }, "founder": { "@id": "https://jacobscounsellaw.com/about/drew-jacobs#person" }, "employee": { "@id": "https://jacobscounsellaw.com/about/drew-jacobs#person" }, "parentOrganization": { "@type": "LegalService", "@id": "https://jacobscounsellaw.com/#legalservice", "name": "Jacobs Counsel LLC", "url": "https://jacobscounsellaw.com" }, "sameAs": [ "https://jacobscounsellaw.com", "https://www.linkedin.com/company/jacobs-counsel", "https://www.instagram.com/jacobscounsel" ] }, { "@type": "WebSite", "@id": "https://jacobslegacycounsel.com/#website", "url": "https://jacobslegacycounsel.com", "name": "Jacobs Legacy Counsel", "publisher": { "@id": "https://jacobslegacycounsel.com/#legalservice" }, "inLanguage": "en-US" }, { "@type": "Person", "@id": "https://jacobscounsellaw.com/about/drew-jacobs#person", "name": "Andrew R. Jacobs, Esq.", "alternateName": "Drew Jacobs", "url": "https://jacobscounsellaw.com/about/drew-jacobs", "jobTitle": "Founder & Managing Attorney", "worksFor": { "@id": "https://jacobscounsellaw.com/#legalservice" }, "sameAs": [ "https://jacobslegacycounsel.com", "https://www.linkedin.com/in/drew-jacobs-dj32/", "https://www.instagram.com/jacobscounsel", "https://profiles.superlawyers.com/new-york-metro/hoboken/lawyer/andrew-jacobs/5765bbd8-0554-4eb5-be6d-0431db28f834.html", "https://www.avvo.com/attorneys/07030-nj-andrew-jacobs-5765bbd8.html", "https://iapps.courts.state.ny.us/attorneyservices/search?lastName=jacobs&firstName=andrew" ] } ] }, [ { "@context": "https://schema.org", "@type": "WebPage", "name": "Estate Planning for Business Owners", "description": "Buy-sell agreements, succession planning, and estate strategies for closely held business owners in NY, NJ, and OH.", "url": "https://jacobslegacycounsel.com/estate-planning/business-owners", "isPartOf": { "@type": "LegalService", "name": "Legacy Counsel by Jacobs Counsel LLC", "url": "https://jacobslegacycounsel.com" } }, { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "Do I need a buy-sell agreement if I am the only owner?", "acceptedAnswer": { "@type": "Answer", "text": "Not for the buy-sell purpose, but you do need a succession plan: who has signing authority on day one after your death, who values the company, who runs it during transition, and who buys it." } }, { "@type": "Question", "name": "What is a GRAT and when does it make sense?", "acceptedAnswer": { "@type": "Answer", "text": "A grantor retained annuity trust transfers an asset to a trust in exchange for fixed annuity payments back to you." } }, { "@type": "Question", "name": "How early should I plan before an exit?", "acceptedAnswer": { "@type": "Answer", "text": "Ideally 18–36 months before a likely transaction." } } ] } ], { "@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://jacobslegacycounsel.com/" }, { "@type": "ListItem", "position": 2, "name": "Estate Planning", "item": "https://jacobslegacycounsel.com/estate-planning" }, { "@type": "ListItem", "position": 3, "name": "Business Owners", "item": "https://jacobslegacycounsel.com/estate-planning/business-owners" } ] } ] --- A Practice of [Jacobs Counsel LLC](https://jacobscounsellaw.com) Serving NY · NJ · OH — Vol. 2026 [Legacy Counsel ](/) Firm Resources Estate Planning Trusts [Probate & Admin](/probate-trust-administration)[Pricing](/pricing)[Book Call](https://cal.com/drewjacobs/estate-planning)[Start Intake](/get-started) Menu 1. [Home](/) 2. [Estate Planning](/estate-planning) 3. Business Owners Estate Planning for Business Owners Legacy Counsel # Estate Planning for Business Owners For most business owners, the operating company is 60–90% of the estate, illiquid, and impossible to divide cleanly among heirs. [Start Intake](/get-started)[Book a Consultation](https://cal.com/drewjacobs/estate-planning) Key Points - ◆ Buy-sell agreements with funded valuation mechanisms - ◆ Voting / non-voting recapitalization to enable gifting with retained control - ◆ Grantor trusts (IDGTs, GRATs, SLATs) to move appreciation outside the estate - ◆ Valuation discounts on minority and non-marketable interests - ◆ Coordination with key-person insurance and management succession ## Start with a buy-sell that is actually funded A buy-sell agreement is only as good as the funding behind it. ## Move appreciation out of the estate before exit If the business is likely to appreciate before sale, the cheapest moment to transfer equity is right now — at today's lower valuation, using today's gift exemption, with future growth accruing outside the estate. ## Coordinate with management succession Ownership succession (who owns it) and management succession (who runs it) are different problems. Frequently Asked Do I need a buy-sell agreement if I am the only owner? + Not for the buy-sell purpose, but you do need a succession plan: who has signing authority on day one after your death, who values the company, who runs it during transition, and who buys it. What is a GRAT and when does it make sense? + A grantor retained annuity trust transfers an asset to a trust in exchange for fixed annuity payments back to you. How early should I plan before an exit? + Ideally 18–36 months before a likely transaction. Related - [Founders Pre-Exit Planning](/estate-planning/founders-pre-exit) - [QSBS Stacking](/qsbs-stacking) - [GRATs](/trusts/grats) - [SLATs](/trusts/slats) Next Step ### Talk to Legacy Counsel. Fixed-fee estate planning for clients in New York, New Jersey, and Ohio. [Start Intake](/get-started)[Book a Consultation](https://cal.com/drewjacobs/estate-planning) Drew Jacobs is licensed in New York, New Jersey, and Ohio. 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All rights reserved. Attorney Advertising. Prior results do not guarantee a similar outcome. **Jurisdiction.** Drew Jacobs is licensed to practice law in New York, New Jersey, and Ohio . Estate planning is highly state-specific — laws governing wills, trusts, probate, estate and inheritance tax, and asset protection vary materially by jurisdiction. We represent clients whose residence, primary assets, or business interests are situated in NY, NJ, or OH. For matters involving other states, we coordinate with qualified local counsel. Nothing on this site constitutes legal advice or an offer to represent you in a jurisdiction in which we are not licensed.