Why Plan Now?
The risk of growing old, or infirmed, are not the only reasons that you should be thinking of planning to pass on your business. For example, perhaps your first love is starting a business, rather than business growth and management.
Your business value will increase if you are planning for its, and your own, future. By looking ahead to exit strategies you, and your advisors, can strategize a business retirement plan that makes sense now, and as well can be fine-tuned as your situation changes over the next few years.
We have not waded into all of the legal and accounting/tax implications of business succession, but have provided places to go for more information in the Succession Resources section.