If The Owner Wants To Leave The Business To His Family:
-Would you like your business to remain in your family?
-Are there family members currently active in the business? If so, is there one person that is more of a leader?
-Do you have family members not involved in the business that you want to provide for in your estate plan?
-Do you want heirs to share equally in your estate?
-How confident are you that the active and inactive members of your business could successfully work together to run the business?
-Would you like to provide a source of funds, other than your business, to provide for your heirs who are not involved in the business?
If There Are Co-Owners:
-Have you and the other owners discussed what will happen if one of you leaves the business?
-Do you have any type of arrangement already worked out between you and the other owners? If so, when was that arrangement created and/or last reviewed?
-Will your family be adequately provided for via income from the business if you died unexpectedly?
-Would you want to be in business with a spouse of a co-owner if the co-owner were to die?
-Would you like to have your interests in the business purchased upon your death? What about if you retire or become disabled?
-Do you think the other owners of your business want the same thing?
-How important is flexibility in terms of how a purchase or sale of business interests is handled?
