You don't want your family to fight after you're gone, and you don't want the IRS to claim more than is necessary during the transition. Here are a few basics rules of thumb for creating a succession plan.
Seventy-five percent of small-business owners have no real succession plan -- a potential recipe for disaster. This entrepreneur's accidental fate tells a cautionary tale.
If you're thinking about leaving your business behind, some careful planning up front can make it a smooth transition that ensures your company thrives after you're gone.
If you haven't thought about what will happen to your business if you're no longer able to run it, these tips will get you thinking about the best plan to put in place.