Most people are familiar with the term ‘will’, but those that own a business often can’t make a distinction between having a personal will and a business will. Far too often, a business owner has an unforeseen situation which could be a divorce, disability, or death. This leads to massive complications about the succession plan on what will happen with the business. Does your partner want to work with your wife? Are your children ready, willing, and able to take over the day to day operations of the business? Will your family get the value of your business should you pass away? Here are four moves every business owner needs to make when you put together a business will. Have a valuation method or a business valuation done within the business will. One of the questions that comes about if an owner passes away is determining the actual value of the business. As a business owner, you never want someone ...
Read More →Four Moves Every Business Owners Needs To Make With A Business Will
Sep 23, 2017
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At The Workplace, Entrepreneur Series, Featured Articles
Tagged a personal will and a business will, Business Will, determining the actual value of the business, EBITDA, Entrepreneur Series, fair market valuation method of the business, fair market value of the business, Four Moves Every Business Owners Needs To Make With A Business Will, Get a buy sell agreement established, oXYGen Financial, put together a business will, Smart Money Moves, Ted Jenkin
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