Many spend an entire life building a successful business but fail to have a Business Succession Plan in place, putting their family in jeopardy. According to the Austin Family Business Program of Oregon State University, fewer than 30% of family business owners have succession plans. Most business owners fail to realize that it is one of the most important concerns they face, and should be in place for the life of the business.

Did you know…

•  You should have a plan for selling or transferring your business for both during your lifetime and in the event of death.
• Having a plan in place today can protect your family in unforeseen tragedy.
• A plan can assure that your family will have sufficient income.

If you own a business, you need a Succession Plan to offset the hurdles your family will face if you die, become disabled, or retire. Many business owners put everything they have back into their business and do not plan for all of these events. If this is you, a business succession plan just became your top priority.

If you would like guidance unique to your situation, please contact us today to schedule a no cost, no obligation consultation with our advisors. We also invite you to view our articles for additional information on how Life Planning can help you build a better future.