A solid estate plan includes many details. A major one is having the right executor, or personal representative, whose job it is to fulfill the wishes of the testator -- the person who makes the will.
Owning a small business is an emotional experience. The blood, sweat and tears you put into keeping your company afloat over an entire career create a bond that can make letting go difficult. If you are looking to pass on the business to the next generation, there are added emotions: Is my child ready to run this on their own? Have I properly prepared them for ownership?