Business Succession: Who Will Run Your Business After You're Gone

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Many entrenepreneurs have spent decades building their business right alongside raising their family. But for as much calculating thought as they have put into running a profitable company, they probably have devoted mush less thought as in who's going to run the place after they're gone - whether by retirement or death.

They haven't asked themselves how much money they might need in order to exit the business (retire) or under what terms they would transfer the business (sell). If they plan to sell, will the Buyer be a relative, an employee, or someone outside the picture?

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Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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