Most business owners have contracts in place, whether it’s with vendors, clients, or employees. But have you ever thought about what happens to those contracts if you pass away?
When reviewing your estate plan, it’s important to think about how your business contracts will be affected. Here are a few things to consider:
- Who takes over contract responsibilities?
- What happens to long-term contracts?
- Are there any clauses that need updating based on your succession plan?
Reviewing your contracts with an eye toward your estate plan can help prevent issues down the road. At Law Rooted, we specialize in making sure your business and estate plans work together seamlessly.
