Owners work hard every day to ensure the success of their business. Every business owner must decide who will take over their business in the event of death, disability or retirement.
Put a plan in place
- Without proper planning, owners may not receive a fair market value for their business interest when they eventually decide to retire or sell their business.
- Help owners understand what happens if a co-owner no longer wants to be involved or cannot be involved in the business for a variety of reasons.
Consider a buy-sell strategy
- To ensure that a shareholder’s portion of the business does not transfer to an unsuitable owner
- To facilitate continuity for clients, employees and creditors
- To help establish a fair market value for their business