Your Business Estate Plan - AKA the "Business Will"
I was in Brisbane last week sitting in the Queen Street Mall watching hundreds of people having lunch and negotiating the crowds.
The thought crossed my mind. I wonder how many of these people are business owners and if they have in place a Business Estate Plan?
I decided to test this over the next week. I made it my job to ask every business person I met when they last had their Business Will reviewed, including the personal insurance and required legal agreements to match?
Out of 8 people, not one of them:
- knew what a Business Will was; and/or
- had their professional adviser (lawyer, business coach, accountant or financial planner) recommended they review or even raise it as an issue
I thought this was staggering!
Take Action: Have you got a Business Estate Plan in place? If yes, does it need to be reviewed? If no, then ask your professional advisers why not and if you require one, how to get it in place.
Another simple way to exceed your financial potential.
Cheers
Ben Law
