Protect the business and the people who depend on it.
Continuity starts with a practical question: who has the authority, information and resources to act if something changes? Written agreements and coverage are parts of the answer, alongside people, reserves and operating routines.
Why it matters to your personal wealthA business interruption can reach your household through lost income, delayed distributions or an ownership dispute. Consider the company’s needs and your family’s needs separately, then coordinate the response.
Recognize the signals
Is this on your mind?
- No one is clearly authorized to act in your absence.
- Your buy-sell agreement uses an outdated value.
- A key employee holds relationships or knowledge no one else has.
- Business coverage and household protection have not been reviewed together.
Start reading
Guides for this area.
Continuity & riskA buy-sell agreement sets rules for an ownership transfer when an agreed event occurs. It can address who may buy, how the price is determined, how payment works and what happens during the transition. The agreement and its funding need to work together. Having a signed document does not, by itself, mean a future purchase will be affordable.
Continuity & riskKey person protection prepares a business for the loss or extended absence of someone whose work, knowledge or relationships are difficult to replace. The person may be an owner, manager or specialist. Start with the work that must continue, then consider leadership backups, documented processes, cash reserves, retention measures and appropriate insurance.
Continuity & riskOwner disability planning asks what would happen if illness or injury limited your ability to work. There are several separate needs: household income, business expenses, operating decisions and a possible ownership transition. A plan connects those needs without assuming a single policy, document or family member can handle them all.
The broader planning agenda
More questions to put on the table.
Explore other questions to discuss with your professional team. These are planning topics, not services provided by BizWealth FP.
3.1Buy-sell (business continuation) planning
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CoordinateA decision that needs input from licensed or specialist professionals, with clear responsibilities and follow-through.- What a buy-sell agreement does: buyer, triggering events, price, funding
- Triggering events: death, disability, retirement, divorce, departure, disagreement
- Agreement types:
- Funding options compared: cash/sinking fund, borrowing, installment note, life insurance, disability buyout coverage
- Valuation clauses and why formulas go stale (book value ≠ fair market value)
- Connelly v. United States (2024) and reviewing company-owned redemption agreements
- Transfer-for-value issues when policies or arrangements change
- Buy-sell agreement review and annual maintenance
3.2Key person protection
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CoordinateA decision that needs input from licensed or specialist professionals, with clear responsibilities and follow-through.- Identifying key people (owners and non-owners)
- Estimating the financial impact of losing a key person (replacement cost, lost revenue, profit contribution, loan coverage)
- Key person life and disability coverage
- Employer-owned life insurance notice, consent and reporting rules
- Key person coverage and business valuation
3.3Disability planning for owners
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CoordinateA decision that needs input from licensed or specialist professionals, with clear responsibilities and follow-through.- Personal disability income vs. business overhead expense coverage vs. disability buyout, three different needs
- Business overhead expense protection (rent, utilities, staff, loan payments)
- Disability buyout provisions in buy-sell agreements
- Aligning disability definitions, waiting periods and agreement triggers
3.4Commercial insurance & risk management
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CoordinateA decision that needs input from licensed or specialist professionals, with clear responsibilities and follow-through.- Risk assessment before buying coverage
- Commercial property and general liability
- Commercial / fleet auto
- Workers' compensation
- Directors & officers (D&O)
- Employment practices liability (EPLI)
- Cyber liability
- Professional liability / E&O
- Surety bonds
- Umbrella coverage
- Independent (multi-carrier) vs. captive agency models
3.5Asset protection
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CoordinateA decision that needs input from licensed or specialist professionals, with clear responsibilities and follow-through.- Separating business liabilities from personal assets
- Professional liability exposure (physicians, lawyers, accountants)
- Entity, titling and trust strategies (planned before a claim arises)
- Personal guarantees and creditor exposure
3.6Contingency & incapacity planning
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CoordinateA decision that needs input from licensed or specialist professionals, with clear responsibilities and follow-through.- Emergency operating plan if the owner is suddenly absent
- Business powers of attorney and authority to act
- Document-location inventory and advisor contact list
The connections
Consider these alongside it.
Does a policy replace a continuity plan?
No. Coverage may provide resources for a defined event, subject to its terms. Your operating plan and legal documents still need to explain who acts and what happens.
What if I am the only owner?
A sole owner still needs to consider authority during incapacity, operating continuity and who could manage or transfer the business. Ask counsel to connect those arrangements to your estate documents.
Should my family be part of the discussion?
Include the people whose responsibilities or expectations would change, with your consent. Decide what they need to know and who will keep the information current.
How often should the plan change?
Revisit it when ownership, valuation, debt, staffing or family circumstances change. Agree on a regular review date even if none of those events occurs.
Your next step
Make continuity & risk part of the whole picture.
Tell us about your business and priorities. We review your application for a possible introduction to a participating advisor. You decide whether to proceed.
Content reviewed: October 20, 2026 · General education
Educational information only, not personal financial, tax, legal or insurance advice.
