Business Succession Planning is essential for protecting your interest in a co-owned business and is an integral part of every business co-owner’s individual Estate Planning.
Problems associated with a business owner suffering an untimely death or injury, as well as disputes between co-owners, both of which often lead to the financial ruin of the business, can be managed or avoided by the implementation of appropriate Business Succession Planning Agreements and related insurances.
The avoidance of these problems will actually protect you and your family by ensuring you can buy a co-owner out of the business or get market value for your share of the business when you need to.
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