Why Trusts Aren’t Just for the Wealthy

Trusts are often seen as something only ultra-wealthy families need. In reality, they play a critical role for everyday business owners, especially when it comes to business continuity, asset control, and avoiding unnecessary court involvement.

In this Kaizen Time episode, Eric explains how trusts actually work, how they differ from wills, and why small business owners should understand them sooner rather than later. The conversation focuses on real-world scenarios, not estate planning myths, and explains how a trust can help protect a business, reduce uncertainty, and ensure clear instructions are followed if something unexpected happens.

Key Takeaways

• Why trusts matter even if you don’t consider yourself “wealthy”

• How trusts and wills serve different purposes

• What happens to a business when there’s no trust in place

• How trusts can help avoid delays, confusion, and loss of control

• When it makes sense to explore a basic living trust