You have poured your life into the business and nurtured it to be what it is today. The questions are: What do you want it to be tomorrow? Not just tomorrow, but after you are gone. Do you want the business to continue? Who will own it? Who will run it? Who will benefit from its value? These questions are just a part of the Business Succession Process and should be addressed in concert with other issues.

Further reading:

• 10 Important Points when Considering Business Transition

• Conway Center for Family Business

Important elements of Life Insurance Consulting:

• Current Life Insurance Policy Review - How confident are you with your current coverage?

• Underwriting Advocacy - Are you getting the best rate?

• Long Term Care Alternatives - How might you pay for long term care expenses?

• Life Settlements - Do you need an option to sell your life insurance policy rather than surrender it?

My philosophy:

I am an expert in the area of life insurance providing independent and objective counsel in an area that is often confusing and conflicted. Life Insurance can be incredibly powerful financial tool, however there is so much confusion and suspicion surrounding the insurance products, the insurance companies and agents that life insurance is often not considered. This confusion and suspicion is understandable, since many life insurance policies have not performed as the company and the agents illustrated.

Life Insurance does not solve all of the world’s problems, but in the context of Business Succession and Wealth Transfer, it is an asset class that should be considered for most portfolios.

Further reading:

• Conway resource: Advantages of Using Life Insurance in Business Succession Planning

Personal Financial Planning is a systematic approach whereby an individual maximizes the existing financial resources through proper management of one's finances to best achieve his/her financial goals and objectives.

A financial plan paints a comprehensive picture of your current finances, your financial goals and any strategies you've set to achieve those goals. Good financial planning should include details about your cash flow, savings, debt, investments, insurance and any other elements of your financial life.