QUESTIONS TO ASK YOUR CPA ABOUT OWNERSHIP CONTINUITY AND BUSINESS SUCCESSION
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Should I have a
buy-sell agreement with my partners/shareholders? Should the
agreement be funded with life insurance? How can I tell
if my business insurance is adequate in terms of losses
covered and dollar amounts of coverage? Do I need fidelity
bond insurance? When buying
business insurance, is it best to work with a broker
representing various carriers or an agent tied to a single
carrier? How can I
establish a succession plan that ensures continuity in my
business when I retire or die? In a family
business, what are reasonable guidelines for employing,
promoting and firing family members? Is it good idea
to hold family business retreats? How should these sessions
be structured?