08/05/2026
What would happen to your business if you could no longer run it tomorrow?
For many South Carolina small business owners, the answer is unclear. Without a formal succession plan, an owner's illness, incapacity, or death can create serious challenges involving business operations, ownership, family members, employees, and the value of the business itself.
In their latest blog, Collins Family & Elder Law Group explains why succession planning should address more than who will inherit the business, including buy-sell agreements, estate planning, key-person planning, tax considerations, and preparing the business for a future transition
The best succession plans are built over time, revisited as circumstances change, and updated as the business grows, ownership changes, family situations evolve, or the owner's vision shifts.