Business owners can prep successors before retirement

03/3/2008 | Advertiser (Lafayette, La.), The

Business owners who plan for the future of their company following their retirement often nurture their own successor. To do this, the owner may set up an informal review period to test the person's skills before making a commitment, increase the successor's benefits to retain him or her until the time is right, and put the buy-sell agreement in writing.

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Advertiser (Lafayette, La.), The

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