Have you considered the impact your death, the death of a key employee or business partner would have on your business?
Business owners and their families throughout Ireland are facing this issue every day. Some, however, are much better prepared than others.
As a business owner, you protect your property, your vehicles and equipment. But have you considered what would happen to your business if you died prematurely and the financial impact that it could have on your family? Would your family stay in the business or would they sell the business?
You may also need to consider the impact on your business of the death of a key employee or business partner. Would you have the funds available to buy your co-owner’s share of the business from their family? Would the business be able to sustain the financial loss on the death of a key employee?