Plain and simple, who will take over your company once you are gone? Do you have an exit strategy in place? Often, business owners have dreams of their son or daughter someday taking over their company. Succession Planning offers business owners the opportunity to strategically plan for the future of the business they have work so hard to build.
If you co-own your business with a partner, you should consider having a buy/sell agreement in place to protect your share of the company. The buy/sell agreement is a legally binding document that directs ownership of a company, should a co-owner die, become disabled, decide to leave, or is forced to leave.
What will happen to your business in the event that something should happen to you? Estate Planning offers individuals the control of planning for the future of their business, from who will run it to how it will be run. It is never too early to plan for the future of your business.