You've worked hard to create a business, and now you're ready to create a succession plan. You want your children, grandchildren and great-grandchildren to benefit from the empire you've built over time.
Since you're ready to create a succession plan, it's a good idea to know more about what the plan is and what it does. Family businesses make up around 50 percent of the total gross domestic products of the United States, so keeping yours productive is the goal. What can you do to make sure your business continues to function even if you have to step down?