Family Succession Plans
« Back to Business Continuation | Buy-Sell Strategies | Key Person Insurance
They have spent countless hours planning and establishing their business. But have they considered what will
happen to the business if something happens to the family member running the business?
Creating a structure for transferring a business from one owner to the next is called succession planning.
It brings together critical players - the owners, partners, key employees and the advisors. It’s also probably the
last thing on your mind, especially when you’re just starting out.
What if an owner become disabled? What if one of the partners retires? What if an owner wants to give the business to their children?
People never know what can happen, but they can be prepared for the unexpected. Succession planning begins with an examination of operational, financial and personal issues.
We know how to help ensure the smooth transfer of a business to its successors at retirement, death or disability.
Neither MassMutual nor any of its employees or agents are authorized to give legal or tax advice. Consult your own personal attorney legal or tax counsel for advice on specific legal and tax matters.
|
