We’re willing to help business owners with even what seem to be the most minute details of the business transition that will take place if they pass away. Specifically, we spend a large amount of time talking to business owners about what happens to the business if the main breadwinner dies.
We ask a lot of questions. Is the spouse involved in the business? Does it go to the children, and if so are they prepared? Is the business going to be sold? Is it going to a partner or someone else in the business, and if so, is a price already determined? Will the non-breadwinner spouse be paid while the deal goes through? And many, many more.
We spend a significant amount of time in this area. We make sure we’ve detailed a very specific business plan, and we make sure everything is in place for that plan to be implemented. Too many family-owned businesses have gone out of business because they didn’t have a plan. We make sure your business survives after you’re gone.
By the way, I got a first-hand look at just how important this is when I looked at this law firm, and worked on my own business transition plan.
I realized many attorneys just aren’t prepared for this area, and vowed my firm would devote whatever it takes to make sure we can help any business prepare a plan that’s right for them.