BY BRITTINY B. RAZZANO
Excuse Number 1: Too Busy.
As a successful business owner, you may
have your hand in the day-to-day operations
and management of your business. It seems
like there is never enough time to sit down
and formulate a plan for your business when
you retire or after you pass away.
You have worked hard to make your business
thrive. It’s worth taking the time to ensure
its continued success. If you wait too long, it
will become more difficult to retire when you
want to, you may get a lower price, or ultimately
generate a greater tax liability. In the worst case
scenario, you may pass away unexpectedly
without ever formulating a plan, putting the
fate of your business in jeopardy.
If you plan ahead, you will be able to clearly
state your intentions and put your important
business operations in writing, to act as a road
map and guide for the future generation of