As his attorney, your client, Ernie Entrepreneur, now seeks your advice on estate planning. Ernie has been operating his business (LLC) successfully now for about two years, and is concerned as to what will happen to the business and to his personal assets were he to die.

Ernie has a spouse and a one-year-old son, Ernie Jr. If Ernie, Sr., were to die, can he provide continuation of the business for the benefit of his workers, etc.? Would his spouse and son be provided for from the business? What about the business loans? Who would have to pay them? What if both Ernie and his spouse die simultaneously, leaving their minor son? Who would be legally responsible and provide for him?

Please advise your client as to the following:

1-Wills

2-Trusts

3-Powers of Attorney

4-Administration of Estates

5-Business succession options

What additional information would you need from your client to properly advise him?