When it comes to estate planning, many business owners often overlook the importance of business succession planning. However, this type of planning ensures that your personal or family business continues to thrive even in your absence. Contact a lawyer to explore why including business succession planning in your estate plan is vital, especially for Illinois entrepreneurs.
Protecting Your Legacy
One of the primary reasons for business succession planning is to protect the legacy you have built over the years. A well-structured plan ensures that your business continues to reflect your vision and values. Business succession planning also ensures:
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The continuity of operations – A clear succession plan prevents disruptions in business operations during transitions.