The Business Law, Estate Planning

Succession Planning for Small Businesses: Protecting Your Hard Work

Episode Summary:In this episode of the Business Law, Estate Planning and Estates Podcast, Thomas LaPorte discusses how business owners can ensure a smooth transition when stepping away from their company. With more than 25 years of experience guiding entrepreneurs and families through complex business and estate planning matters, Thomas explains the key elements of a succession plan—from identifying future leadership to structuring buy-sell agreements and minimizing taxes. He explores the challenges faced by family-owned businesses, the importance of early planning, and the legal and financial tools that protect the value of a lifetime’s work.
Key Timestamps:00:01 – Introduction: Understanding What Succession Planning Really Means01:30 – Why Every Business Needs a Succession Plan03:00 – Family-Owned Businesses and the Challenge of Generational Transitions04:45 – When and How to Start Planning for Business Succession06:15 – Risks of Operating Without a Succession Plan08:30 – Options for Transferring Ownership: Family, Employees, or Third-Party Sale10:10 – Asset Purchase vs. Stock Purchase Agreements Explained12:15 – The Role of Buy-Sell and Operating Agreements in Smooth Transitions14:00 – Funding a Buyout Through Insurance and Loan Options15:15 – Key Tax and Estate Planning Considerations in Business Transfers16:45 – How Succession Plans Help Prevent Family or Partner Disputes18:00 – Final Thoughts: The Value of Preparation and Planning Ahead
About the Show:The Business Law, Estate Planning and Estates Podcast features legal insights from Thomas LaPorte, founder of LaPorte Law Group, PLLC, with offices in Portsmouth, New Hampshire, and Andover, Massachusetts. Each episode offers practical guidance for business owners, families, and individuals on protecting assets, planning for the future, and navigating the complex legal landscape of business, probate, and estate planning.

Starting a Business: The Legal Basics Every Owner Should Know

Episode Summary:In this episode of the Business Law, Estate Planning and Estates Podcast, Thomas LaPorte explains the essential legal and practical steps every new business owner should take when launching a company. Drawing from more than 25 years of experience advising entrepreneurs, families, and business owners, Thomas discusses how to choose the right business structure, minimize risk, create clear partnership agreements, and develop employee policies that protect the company from future liability. He also addresses common mistakes that lead to disputes, overlooked compliance issues, and how proactive planning can prevent costly problems down the road.
Key Timestamps:00:01 – Welcome and Introduction: Getting Started on the Right Legal Footing01:00 – Choosing the Right Legal Structure for Your Business02:45 – Understanding Business Risks and How to Minimize Them04:45 – Why Partnership Agreements Are Crucial in the “Honeymoon Phase”06:15 – Common Disputes and Legal Issues in Early-Stage Businesses08:30 – Contract Pitfalls and How to Protect Yourself10:15 – Government Filings, Taxes, and Compliance for New Businesses12:10 – Creating Employment Policies and Handbooks That Protect Your Company14:00 – Legal Requirements for Leave, Benefits, and Discipline Procedures15:30 – Commonly Overlooked Legal Details and Mandatory Harassment Policies16:45 – Importance of Payroll Compliance and Timely Employee Payments17:50 – Final Advice: Plan Ahead and Stay Legally Prepared
About the Show:The Business Law, Estate Planning and Estates Podcast explores practical legal insights to help individuals, families, and business owners protect their assets, plan for the future, and build sustainable businesses. Hosted by Thomas LaPorte, founder of LaPorte Law Group, the series provides expert advice on business law, estate planning, and probate for clients across New Hampshire and Massachusetts.

The Probate Process: How Basic Estate Planning Can Make It Easier

Episode Summary:  
In this essential episode, Thomas Laporte breaks down the probate process, explains why it often becomes lengthy and expensive, and reveals how proper estate planning—especially trusts—can streamline or even bypass much of the complexity for families.  
 
Key Timestamps:  
00:01 - Show Introduction  
00:25 - Guest Introduction  
00:53 - What Is Probate and Why People Fear It  
02:10 - The Probate Process Step-by-Step  
05:00 - Typical Timeline and Delays (1–2+ Years)  
06:30 - Common Family Challenges and Will Contests  
08:45 - Costs Involved: Fees, Bonds, Appraisals, Legal  
10:15 - How Trusts Reduce or Eliminate Probate  
12:40 - Dangers of DIY and Online Estate Documents  
14:20 - When Probate Is Still Necessary  
15:30 - Court Overrides and Intestacy Risks  
16:45 - First Step to Start Estate Planning  
 
About the Show:  
"Business Law, Estate Planning and Estates" is a podcast that demystifies legal strategies for protecting assets, planning legacies, and navigating business and personal transactions. Thomas Laporte shares over 25 years of experience to help individuals, families, and business owners plan with clarity and confidence. 

Wills vs. Trusts: Which Is Right for Your Family?

Episode Summary
In this episode, Thomas LaPorte of LaPorte Law Group breaks down one of the most common questions in estate planning — what’s the difference between a will and a trust, and which one is right for you? With more than 30 years of experience in estate planning, business law, and probate, Thomas explains how each tool works, when to use them, and how they can protect your loved ones and assets. He also discusses key life events that should prompt a review or update of your estate plan and shares practical examples of how trusts can offer flexibility, privacy, and peace of mind for families of all sizes.
Key Timestamps
00:00 – Introduction01:40 – What Led Thomas to Focus on Estate Planning03:50 – Why Thomas Started His Own Firm05:00 – What Is a Will and What Does It Do?06:40 – What Is a Trust and How Does It Work?08:30 – The Biggest Misconceptions About Trusts09:50 – When to Choose a Will Over a Trust11:20 – What Happens Without a Will or Trust13:30 – How to Decide Between a Will, a Trust, or Both15:00 – When to Review or Update Your Estate Plan16:30 – Key Life Events That Require a Trust18:00 – Closing Thoughts
About the Show
The Business Law, Estate Planning and Estates Podcast explores the legal strategies that protect families, businesses, and legacies. Each episode features Thomas LaPorte of LaPorte Law Group as he shares expert insight into estate planning, probate, and business law — helping listeners make informed decisions for their financial and personal futures.