Estate Planning for Business Succession Planning by Nur Sabrina Soon

A properly structured estate plan can greatly impact the future of your beneficiaries, as well as provide you with peace of mind that your spouse and children will be accounted for after you are gone. In the same way, a well-defined succession plan ensures your business and legacy will be passed on to the next generation or transitioned to key employees. Many business owners are not motivated to act until ownership transition is a clear, present, and pressing need. Unfortunately, by then it is often too late in the game. By identifying the various structures for Business Succession Planning, the business owners are more likely to have a successful management and ownership transition in the future.

Learning Outcome