Does a revocable trust protect assets from lawsuits or creditors?

Potentially, yes.

For some founders and business owners, advance trust planning may create opportunities to reduce or defer certain taxes associated with a future business sale.

Preparing for a business sale often involves more than negotiating a purchase price. The structure of your ownership, entities, and estate plan can have a significant impact on taxes, asset protection, and how sale proceeds are ultimately transferred and managed.

Prepare your family by organizing what you own, explaining how it works, and clarifying who will make decisions if you cannot. Introduce the people who may step in to your managers and advisors, and give them opportunities to learn before a transition. Your family does not need to handle every task personally, but they should understand their responsibilities, where to find information, and whom to ask for help.

A potential business sale can create opportunities to review asset protection, succession planning, wealth transfer strategies, and tax planning before a transaction occurs.

Advanced tax planning often becomes more relevant as wealth, investments, and business value increase or when major transactions are anticipated.