Business Succession Planning - The Entrepreneur's Legacy
Posted on Aug 12, 2019 8:30am PDT
Every entrepreneur and business owner knows the depth of passion and work
that goes into owning and running their own business. The hours that are
never tracked, the behind the scenes work, and time away from family and
friends that can’t be calculated are all part of the intrinsic value
of your business. Statistically only one quarter of small businesses survive
past 15 years. If you have built up a business and beat the odds to keep
it not only alive but thriving, you need to seriously consider business
succession planning.
A well-designed plan allows your business to continue running un-interrupted
regardless of your retirement, incapacity, or death. The plan also allows
your business to pass without going to probate which could put the business
in the hands of unintended beneficiaries or at risk of potential creditors.
The time it takes to create your business succession plan depends on the
size of your business, how many key positions will be required, and the
complexity of your succession plan.
Many small businesses, including those run by families, run across many
generations and the only way to accomplish this goal is to preemptively
plan for successors to take over the business before the owner or key
executives choose to, or are forced to leave it. Your business can live
perpetually, but you cannot! However, your hard work in establishing and
growing your business can reflect in your business’ lifetime if
you plan for its future. To ensure you are protecting your property and
yourself in the best possible way call us today to schedule a complimentary
preliminary consultation with one of our Asset Protection Attorneys. We
will review your business and its current situation to suggest the best
possible route for protecting your valuable asset.
The Presser Law Firm P.A.
6199 N. Federal Highway, Boca Raton FL 33487
(800) 999-9992 or e-mail
info@assetprotectionattorneys.com
www.assetprotectionattorneys.com
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