Episode 287
- 6 hours ago
- 1 min read
8/20/26
Topic: The Multi-Million Dollar Question: Is Your Estate Plan Ready?
Guests: Donnie Shelton & Dan Gordon, CPA & CEPA
In this episode we discuss:
Our sponsors Coalmarch by Workwave, PestSure, Voice for Pest, Forshaw & PestPac by WorkWave
PMP Industry Insiders Peer Groups & Conference
The importance of estate, gift, and succession planning for pest and lawn business owners
The risks of failing to plan, such as potential fire sales or chaotic transitions for families
Business valuation factors and why owners might be worth more on paper than they realize
Federal estate tax exemptions and how gift and estate taxes function in conjunction
The role of trusts, specifically how revocable trusts can avoid the public probate process
Strategies for wealth transfer, including the use of irrevocable trusts to remove assets from an estate
Asset protection benefits provided by trusts, shielding business interests from potential lawsuits or creditors
Key professionals to involve, such as estate attorneys, CPAs, and insurance advisors, to build a comprehensive plan
The necessity of regular reviews, ideally annually, to ensure the plan aligns with business growth and life changes
Notable: "Most pest control owners think that estate planning is a rich person problem. It's not. It's a 'you built a business worth more than you think' problem." —Dan Gordon, CPA & CEPA
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