A business owner works hard his entire life to build a business. He must have a business succession plan which will allow the business to survive his death in order to benefit his family while maximizing the financial benefit to the business owner during his life.  A Business succession plan is an investment in the future of the business for the next generation of owners as well as the customers and employees of the business. This process often involves changes to the business entity itself in order to facilitate a tax efficient and orderly transfer. It also involves shareholders (Buy-Sell) agreements, employment contracts, consulting contracts, trusts and a host of other legal instruments depending on the unique circumstances of each business. Business succession plans must be periodically reviewed as the circumstances of the business and the parties change.