A Speaking Engagement on Business Succession Planning
Often a neglected task that is inextricably intertwined with a business owner’s estate plan is the business’s succession plan. What happens to your business if you become disabled or suddenly pass away? How is your family compensated for the business? Who should or could take over? How are your business partners going to afford to buy out your interest? All these concerns are frequently, and unfortunately, put on the back burner because, hey, you’re running a business and you can’t worry about hypothetical issues. Well, as an attorney who has seen the problems, expenses, and emotional ramifications of the failure to plan your exit from your business, all business owners heed my advice: do not procrastinate in establishing a business succession plan.
Yesterday, November 9th, I was fortunate to be invited to speak at the annual attorney seminar for the NTCA – The Rural Broadband Association on business succession planning and, more specifically, buy/sell agreements for business owners. Check out a short highlight video of the presentation. Thank you to the NTCA for the opportunity and thank you to the Hotel del Coronado for hosting the event. For more information on business succession planning, estate planning, and the need for a plan to protect your business in the event of death or disability, call our office to schedule a free consultation.