Advanced Planning

Business Continuity Planning

Statistics tell us only 30% of family businesses make it to the second generation. Family conflict, failure to plan, and estate taxes are the primary reasons cited. Having a plan which covers contingencies that are actively reviewed and refined along the way is the answer.

Attorneys, accountants, insurance specialists along with a client’s primary advisor make up the core of the team helping business owners create a Continuity Plan. The plan needs to address the three outcomes any business owner faces – living, dying, or becoming disabled.

Having a business plan is more important than individual planning because each employees’ family relies on the business and their paycheck continuing too. An experienced insurance specialist can add value and insight to the process. Understanding advanced underwriting, legal, and accounting issues are vital. Buying the cheapest insurance off the internet is likely a big mistake you may not learn about for years.


Estate planning can be a challenge for any size estate. At the heart of it is to set up a plan documenting what happens to your assets during and after your life. For high-net worth clients, the process is more involved. Expert’s state there are two sets of estate tax laws— one for the informed and one for the uninformed.

Life insurance is often used in the estate planning process. For younger clients still building wealth, it helps them create the estate they wanted to leave in the event of an early death. Life insurance provides liquidity when needed and may be used to provide for a current or ex-spouse or to support special needs children. High-net worth clients will often use life insurance to guarantee liquidity, equalize the estate or replace gifted assets.

Having an experienced insurance specialist who understands the issues, legalities, and intimate understanding of life insurance is vital. Working with someone with access to the marketplace offering different carriers and products can leverage your time and add value to the process.