Plan for Your Business’s Future
Someday, you will no longer lead your business. You may simply wish to retire or you may be forced to leave the day-to-day operations of your business due to a debilitating illness or injury. The death or disability of an owner is one of the greatest threats to a business. Not only can it impact the day-to-day operation of the business, but it can raise questions about business succession and expose estate tax issues. Proper succession planning can help.
Succession Planning Strategy
Succession planning affects everyone with an interest in your business, including business partners and key employees as well as family members. While not always easy, it’s important to have meaningful discussions about often overlooked issues, such as the ideal successor, the value of the business, and the timeline for transition. Vision Financial Group can help you develop a succession plan that prioritizes a smooth transition according to your vision for the business’s future.
Consider the following options to make business succession planning easier for you and the people who count on you:
Disability Income Insurance
A disability policy can help ensure the orderly succession of a multi-owner business in the event of a long-term disability.
Business succession plans that include specific life insurance policies can help ensure your business is protected.