Small Businesses can fail without a proper succession planning. Without a properly funded succession place in place, shareholders’ dispute and struggle for control can result in business destruction. Business Succession Planning is a way to preserve and value the business, provides liquidity, and an efficient funding mechanism upon exit. Have you got a Buy-Sell Agreement in place to ensure the survival of your business partnership if something happens to one of your partners? How do you ensure a fair price for your business upon exit? How do you protect your business from the loss of a key employee?
Succession Planning is the answer to all these questions. Succession Plan ensures the survival of the business upon retirement, critical illness, death, or changes in the business relationship.
BUSINESS TIMES ARTICLE: Consider using universal life insurance in succession planning https://www.businesstimes.com.sg/hub/whos-who-in-private-banking/consider-using-universal-life-insurance-in-succession-planning MANULIFE NEW YORK CASE STUDY EXAMPLES: SUCCESSION PLANNING SLIDES : https://www.slideserve.com/Pat_Xavi/succession-planning
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