Business Continuation Planning

The death or disability of an active shareholder, weather s/he owns some or all of a business, never happens at an opportune time. But the truth is, it does happen. Without proper preparation, it can be catastrophic for any business. So many questions must be answered during a time of heightened emotions. Here are just a few:

➢ Will your family retain the business? Is that even an option?
➢ Are there capable employees to run the business?
➢ Will lenders call in loans secured by the deceased business owner?
➢ If the business will be sold, what is it worth now that the business owner is gone?
➢ Does the business have the liquidity to stay open?
➢ Is there a need to equalize inheritances among family members?
➢ Without a viable business continuation plan, will the owner’s life work, the value of the business, be significantly reduced or lost?

A properly prepared, funded and executed buy-sell agreement can replace ambiguity with certainty. Let us help you review your current plan or establish a new one.