Estate planning is an uncomfortable subject for many. For the self-employed, the topic can be even more sensitive. Estate planning can be quite complicated when you own a business. There are business assets, business accounts, and the ever-looming threat of bankruptcy.

Health issues are another concern. Entrepreneurs are often unable to afford good health insurance or long-term care protection. Business assets are at risk if you become unable to work.

Business owners can also have a much larger estate tax burden. Minimizing these taxes requires thoughtful planning and expert guidance.

If you’re self-employed, consider these ideas regarding your estate planning:

 1. Power of Attorney. For the more conventionally employed, all that’s usually needed is someone you can trust. For the self-employed, remember that the person with power of attorney will be making business decisions if you become incapable.

•  Can you find someone you trust with the...