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Planning for the transition of the business you have spent many years building is not an easy task. However, taking steps now to prepare a business will and the accompanying documents can help ensure your business continues according to your wishes.

Running a business out of your home can be a lifestyle shift, particularly if you share your space with family members or a roommate.

Juggling the responsibilities of your business and your personal affairs is a challenging task. However, it’s important to take some time out of your busy schedule to review your personal financial plan.

When the pace slackens, are you ever nagged by thoughts of what would happen to your company if it was unable to carry on due to your death or disability? These concerns may seem like remote possibilities. However, by putting them off, you may be placing the future of your business at risk.

Is your growing business still a one-person operation? As your company continues to grow and the workload increases, it is easy to find yourself not having enough hours in the day to accomplish everything that needs to be done. At such a turning point, many small business owners turn to their families for help.

What would happen to your business and your family should you become disabled or die unexpectedly? Do you have key employees or family members who could step in and run the company in your absence?

Have you ever considered the impact of losing key personnel from your business and how such a turn of events might affect your company?

There are many positive aspects of being part of a family business. Relative (no pun intended) job security and financial benefits are two that readily come to mind.

You know the amount of planning needed to maintain daily operations and grow your business. Now, you may be ready for retirement. But, the planning does not end. What you do next, and how you navigate potential tax issues and regulatory pitfalls, can make a big difference in the long-term success of your retirement.

Universal life insurance is an idea that offers several interesting and beneficial components. The most notable are flexibility and adjustability.