I work with my clients on putting plans in place for “what ifs.” I run through the hard issues. What if this happens, what if that happens? What if one of the owners doesn’t show up? What if there’s a death? Disability? Divorce? Or disagreement? All of these things are very scary, and you have to have plans in place to keep your business moving forward.
What you don’t want is a double whammy. You don’t want to have a death or disability or divorce or disagreement and not only have to deal with that event but also have your business wiped out or reduced significantly in value because a plan was not in place. I work with our clients to help put plans in place to make sure that in the event some unlikely, but very challenging things happen, the business is on a path to move forward, and that wealth is protected, and everything is going to run as smoothly as possible. It’s critical to put plans in place to make sure that you don’t get hit twice by an illness or a death or other unfortunate event.