"Succession planning... what's it all about?"
Succession planning is key to future business planning. After all, without succession planning, your business has no future. Let's look at the succession planning process.
Interestingly, the succession planning process starts with the realization of your mortality. Perhaps you hear of a competitor that died, or unfortunately your family is mourning a loved one. You realize that, despite your success and good health, factors beyond your control can determine the length of your journey in life and with your business. You may not be ready to buy any particular succession planning instruments yet (such as life insurance), but you know your partnership must have them.
So you get a referral to a business planning attorney. Here are some of the considerations for your advisor, while helping you choose a succession planning model:
Steven H. Kobrin, LUTCF, specializes in helping "high risk" clients obtain free life insurance prequalification. If you would like Steve to request prequalified life insurance quotes on your behalf, simply send him an email or call him toll-free at 1 (866) 633-1818.
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