Just Like All Businesses Should Have a Business Plan, All Business Owners Should Have an Asset Protection & Succession Plan

If you’re like most business owners, your business represents thousands of hours of hustling, investment, and hard work.

It’s also likely your primary source of income and a major portion of your net worth.

That’s why it’s critical to:

  • Have the appropriate legal structures and record-keeping in place for maximum liability and asset protection
  • Have proper insurance in place in the appropriate amounts
  • Make sure you’re minimizing your tax liabilities
  • Have a clear, written plan for:
    • What happens if you (or a co-owner) becomes seriously ill or disabled?
    • What happens when you’re ready to retire?
    • What happens to your business if you die?

We can help you protect yourself and your business from major life events such as divorce, disability, retirement, or death—of you or one of your business partners.  Just like a well-managed business should have a carefully-designed, written business plan, all business owners should have a carefully-designed business succession plan and estate plan.

Otherwise, without proper planning, any of these events could send your business into a downward spiral from which it might never recover. Don’t let that happen to your business and to your family. Make a plan.

For more information on how Carolina Family Estate Planning can provide you with a comprehensive estate plan in the Triangle, call our office at 919-500-7757 to discuss your next steps, fill out our online form and we’ll follow up with you