As a business owner, planning for your death is vitally important not only to your family, but to your employees, customers, and vendors. Here’s a few questions to ask yourself to check to see if you have a proper plan in place for the worst case scenario.
1. Do I have a will?
2. Is my will up to date?
3. Do I have a living will?
4. Have I reviewed my will and trust in the past 3 years?
5. Do I have a plan for key employees if something should happen to me?
6. Have I identified and written down my trusted advisors (attorney, insurance agent, accountant, etc)?
If you answered “no,” to all those questions, it can seem like a daunting task to handle. But don’t be too busy running the company, it’s much easier to do this work now than later.