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Planning for Unanticipated Business Partners

12/28/17 - Virtually anyone who goes into business with one or more partners does so because those partners bring something to the table – often expertise, experience, or creativity. What happens, however, if a partner dies, divorces, files for bankruptcy, or simply wants to sell his or her share in the business? The other owners may be surprised to learn that they would suddenly be in business with their partner’s spouse, heir, or even a complete stranger who lack the qualities that were sought from the original partner, but can nonetheless make decisions on behalf of the business. In most cases, business owners can prevent these unanticipated transfers if they plan ahead. READ MORE