Guest Post by Alicia Lawrence
Death is the one thing we can count on in this life. We often push the thought aside to avoid depression. But in the case of a solo entrepreneur, death is something we have to be prepared for if we want our business to live on. While some entrepreneurs are fine with the thought of having their business die with them, others value all the time, sweat and tears they’ve poured into their work and hope it will sustain their family even after they are gone.
This is a guide for those solo entrepreneurs who hope to pass down their business to a family member or friend. One caveat before we begin: every business is different and, while entrepreneurs love doing things themselves, it’s worth your investment to have a lawyer or financial planner look over your business continuation plan to make sure you didn’t leave anything out. [Read more…]