Business Succession Considerations

The death, disability, retirement, or departure of a business owner can affect business operations, ownership, employees, and family members. Business succession planning may involve legal, tax, valuation, and insurance considerations.

Life insurance may be one tool used to help provide funding following an owner’s death or another triggering event, depending on the structure of the business and the agreements in place.

Business owners should work with their attorney, CPA, tax advisor, and valuation professionals to design and document a succession plan. We can provide general information about insurance products that may support a properly documented plan.