Do you own a business? If so, you are living a large part of the American Dream. Next to owning a home, owning a business is the most sought after privilege desired by most Americans. As you know, of course, being your own boss requires a huge dose of self-discipline. And if you are one of those who has put in the time, effort and sacrifice to do things your way, no doubt you are enjoying the satisfaction and benefits of being able to determine your own destiny.
In order to make this satisfaction complete and to make sure the benefits continue, the issue of business succession needs to be addressed. This is a little like having a will. No one likes to think about personal mortality or take the time to do it, but once it’s done, you can forget about it and enjoy life a little more because you know you have done the right thing. Planning how your business will transition to an heir, a partner or someone else of your choosing when you die or if you become disabled, is the most caring and responsible thing you can do for your family. It will provide peace of mind for you and ensure that their material needs will be met.
