If you operate a business, consider a succession plan a necessity in the event that you cannot return to work. While many clients already have Powers of Attorney in place, it is equally as important to have a comprehensive disability protection plan set in order.
Typically, your representative under a Power of Attorney is someone you can trust, but not necessarily someone with the right experience to strategically operate your business.
For this reason, it is recommended that you have a disability protection plan ready, so that your business can continue to run efficiently even in your absence.
Without proper protection, a disability could also be harmful to the business operations of clients who own large investments in real estate.
Without the client present, who will ensure that capital improvements are made?
Who will handle the cash flow, and make sure that tenants’ needs are satisfied?
These are important questions to consider in the likelihood of an accident. A thorough disability protection plan will ensure that your real estate continues to be developed, owned, or managed with the least amount of trouble possible.
Disability can also have a negative impact on a client’s investments.
Many people unknowingly assume that in the event of an accident, their investments will continue on without any problems.
However, keep in mind that in volatile markets or for investors who are active traders, a disability may leave an unqualified person in control of the investment portfolio that does not have a comprehensive understanding of the overall investment strategy and risk tolerances.
A mistake such as this one can potentially harm a client’s current and future investments.
Start Planning Today
A solid disability protection plan will guarantee that the future of your business is in good hands. An important part of the integrated planning process will be to consider the dangers and opportunities with regard to disability protection, and to ensure that you and your family have a comprehensive disability protection plan in the event that you can no longer return to work.
The Sigel Law Group, P.A. can ensure a stable future for your business with an all-inclusive disability protection plan custom to your needs and concerns. With over 20 years of experience in the industry, Attorney Barry D. Siegel at The Siegel Law Group, P.A., knows firsthand what can happen if you are unprepared for life’s greatest challenges.
The success of your business doesn’t have to stop in your absence. Why wait until it’s too late? Contact the Siegel Law Group, P.A. today and learn more about how our services can help protect the future of your business.