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Protecting Your Your Business

How can I protect my business if something happens to me?

Although you can never protect a business from the loss of a key person, planning ahead can minimize the impact. One approach is to buy insurance products that offset lost revenue from a temporary absence, such as when someone is ill. Another is to plan ahead for the impact of taxation if a business owner dies. Taxation can be very unfair in this instance since it’s often based on the value of the business when the owner was alive. Financial planning can help mitigate the worst of these scenarios. Talk to a BlueRock Wealth advisor today to evaluate your business and plan for contingencies.