A business plan is important for anyone with their own or family-owned business. Planning is necessary to avoid confusion and disagreement as to what to do with the business when you are no longer able to make decisions that affect the business or you become disabled. There are many variables to consider, such as whether or not your children and spouse have the ability to run the family business in your absence. The sooner you develop your business plan, the more options will be available to you.

You will need an attorney to make your business plan complete and clear. An attorney can help you to evaluate your plan and help make sure you've planned for all eventualities.

The business plan involves estate taxes, special estate taxes, special rules, trustee responsibilities, strategies for distribution, and strategies for selling. A qualified attorney will ease the many complexities of business succession planning.