Planning For Your Imminent Demise

Episode 272 | Planning For Your Imminent Demise
Date: 2016-01-19
Link: Startups for the Rest of Us
 
Startups for the Rest of UsHave a will or living trust.
Have a document that is accessible to someone that outlines the business.
That document needs to contain everything that is needed to know to take things over.
You need to have somebody you designate that you trust.
You don’t want it to be online unless it has some really extensive encryption.
The tough part is keeping it up-to-date.
Have a calendar reminder to update the document once a year.
Have an up-to-date list of services you use and what you use them for. You can maybe pull this from credit card statements.
Make sure the basic accounting stuff is available.
Selling a business is not going to be an overnight thing.