Are you a business owner? Most business owners have their estate plan prepared because they are worried about what will happen to their business after they pass away. As a business owner in Florida, have you considered that the best estate plan may also allow you to make plans for what will happen with your business if you are incapacitated or need to be away from your business for an extended period of time, but are still very much alive?

As the business owner, you are ultimately responsible for the daily operation of your business. What will happen if you cannot be there every day? You do not have to be in a coma to be unable to oversee your business; you could be on an extended vacation or have a medical diagnosis that requires several months away for treatment or recovery. During this time, your business needs to continue operating so that you and your employees can continue earning money, and so that your customers can continue to receive the service they have come to appreciate and expect.

It can be important for a business owner to think ahead about who will be in charge of daily operations. This individual needs to understand the business, have the respect of your employees, and be confident in making decisions in your absence. Without planning ahead, chaos can result from too many people fighting for control, or an absence of someone willing to step in. Even if you have a family member working in your business, he or she may not be the best choice to succeed you.

Putting a plan in place can require both legal tools and important conversations. It can be vital to let your top employees and family members know what your plan is, should you be absent from the business. By planning now, you can avoid chaos and stress for your family, your employees, and your customers.

We can help you develop a plan to keep your business running while you are away. Make an appointment with our office today.