Owners of closely held businesses face special challenges when they want to retire or move on to other pursuits. Death and disability are two major events that can destroy a closely held business whose owner failed to plan. A business continuation plan is crucial to a business owner looking to pass on the legacy they have created to their beneficiaries. Many business owners also look to their business as the sole means of achieving financial independence and as a means of retirement in the future. This may add risk to a client’s estate instead of adding stability.

When including business planning in a client’s strategy, we look at all possible risks the business may face in the future, including tax liabilities, business failure, disability and death. We then include these risks as issues in the estate and create a plan that will minimize or avoid them.