Business Continuation
Surprisingly, over 70% of closely-held businesses have absolutely no plan in place to provide for the orderly transition of the business in the event of the death, disability or retirement of the owner(s).
The death of an owner in any business causes a number of problems which can be addressed with proper planning. Consider these questions:
- Who will buy your business?
- How do you place a price value on your business?
- How will a family member buy your business?
- Will the business remain in the family?
- How will other non-involved family members be taken care of?
- Are there capable successors/owners?
These are tough questions for closely held family business owners. Business continuation planning and business valuation are just some of the tools and expertise our financial services experts at R&R Insurance can assist you with. Buy-sell arrangements are a very common answer for continuing a family business. R&R Insurance's financial experts will help you make the right decisions based on your personal needs, the needs of your business and a complex array of legal and tax issues. R&R Insurance, in fact, is a perfect example of a successful perpetuation plan. One thing is for certain, the face of R&R would be much different today if it wasn’t for proper planning. Read our story.
Contact one of our knowledge brokers today about how we can help you with your family business succession plan!