What is incapacity planning and do I need it?

Updated March 13, 2023.

When estate planning or business succession planning is done properly, all eventualities are taken into consideration including the possibility of your own incapacitation. As head of a business, succession planning will provide the proper legal authority for others to step in and operate the business including contract negotiation to purchase supplies. Additionally it is possible that certain banks, suppliers, and government agencies would be unwilling to continue business if there is no incapacitation plan in place.


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