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Building Your Personal Wealth Passing Along Wealth to Your Heirs What to Do About Your Business
Building Your Personal Wealth Passing Along Wealth to Your Heirs What to Do About Your Business
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PrintWhat to Do About Your Business
The question of what to do about your business comes down to two main choices:
- Transfer the business to heirs, or
- Sell the business (and/or its assets) to employees, competitors, or others.
Unless you develop a workable plan during your lifetime either to keep your business in the family or sell it as a going concern upon your death, your executor or other estate representative will likely be unable to do anything other than liquidate it — usually on unfavorable terms.
