Succession Planning in the Time of Social Distancing

In this time of social distancing and economic uncertainty, the last things you, as a business owner, may be thinking about are your succession plans. More immediate concerns about just keeping the doors open and the lights on are probably higher on your list of priorities. On the other hand, perhaps the current global circumstances have really made you examine your plan (or lack of thereof). What would happen in the event you were not able to work due to your own illness or a required quarantine as a result of contact with a sick family member, employee, or customer? Who would take over the business in the event of a premature death of an owner or key employee? How do you want your family taken care of and are the necessary documents in place to carry out your wishes? More