Importance of a Business Continuity Plan

Pitfalls of Not Having a Buy-Sell Agreement As we all know, unfortunate events can and will occur in the course of owning and running a closely held business. But are you prepared for when these hard times come? That is to say, do you have a plan if you or your business partner die, divorce, become disabled, become disqualified from ownership, or depart the company (voluntarily or involuntarily)? Who will legally own and run the business? What will become of your company? Will your surviving spouse pick up the business where you left off? These are the questions you should ask yourself. If your answer is No or I don’t know, you and your business may be in for a slew of issues—financial an

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