You’ve shared the highs and lows of building and running a business as well as your personal ups and downs.  You’ve probably shared social occasions and know each other’s spouse and children.  In many ways your lives are probably entwined.

Business Succession Planning is the term that describes the steps that should be taken, in order to make possible the transfer of a business interest from one owner to another person(s), or entity, should the need arise in the future.