Planning for succession of a closely held business is a lot like making a will. An individual has the opportunity to make a will which directs how the individual’s final affairs will be handled and property distributed. If an individual fails to make a will, the state provides a set of rules that provide how the final affairs will be handled and property distributed, but it may not be what that individual would have wanted if the time to make good decisions and implement a will had been taken. Read More
