Why business owners MUST plan ahead

The focus of our column this month is omissions. If you are a small business owner, your home and business are probably your two biggest assets, Yet it’s possible, even likely, you’ve included your home but omitted your business in your estate plan.
If you have made this omission, you’re not alone. Half of the 30 million small business owners in the U.S. have not done succession planning.
Effects of not planning
Often, the impact of this omission when a business owner dies or i