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Advisors On Business Succession

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“Successful businesses fail for two predominate reasons: one is failure to do the proper estate planning, the second is failure to properly handle management succession.”

–Herbert K. Daroff, J.D., CFP, Boston, Mass.

“You do people a disservice, and you do your family a disservice, if you dont have a succession plan.”

–Robert W. Sunshine, CLU, MSFS, Irvine, Calif.

“The issues that we dealt with 20 or 30 years ago for small business owners are the same exact issues we see today. Nothing has changed in that regard, except perhaps the tools we use to solve the problems.”

–William A. Keen, CLU, ChFC, Fairfax, Va.

“Helping business owners identify internal buyers who might be able to take over the business may get them a better purchase price than if they just went into the market to sell to a non-related party.”

–Guy E. Baker, CLU, ChFC, MSFS

Reproduced from National Underwriter Edition, February 10, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.