Business Succession
1.
Yes
No
Not Sure
Do you know what would happen to your business if you died today?
2.
Yes
No
Not Sure
Have you analyzed your current business situation and valued your assets?
3.
Yes
No
Not Sure
Have you begun the creation or implementation of a business succession plan?
4.
Yes
No
Not Sure
Have you identified a future owner for your farm or business?
5.
Yes
No
Not Sure
Have you discussed the transition of the business with your identified future owner?
6.
Yes
No
Not Sure
Have you discussed the transition of the family farm or business with your future heirs that will not have a stake in the business?
7.
Yes
No
Not Sure
Have you fairly and equitably provided within your estate for those heirs who will not take part in the farm or business?
8.
Yes
No
Not Sure
Do you have a buy-sell agreement in place?
9.
Yes
No
Not Sure
Do you have life insurance or some other strategy in place to fund the buy-sell agreement?
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