I have been successful enough that my business is no longer a ‘small business.’ What should my concerns be about my risk and insurance planning now?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 16, 2021

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Although you have become a successful business person with all the advantages (and responsibilities that entails) there are potential problems that you need to consider. In particular, what would happen if you became disabled or died? Or what if something happened to one of your key employees or business partners? Could your business continue? Would there be funds to pay for continuing expenses? Would the business be badly damaged perhaps to the point where forced sales of assets might be required? Would money be available to pay estate and other taxes that might become payable?

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