BusinessKillers Risk Barometer

Have you ever had the business value appraised by an outside resource?

Have you had the appraisal or documentation reviewed within the last three years?

Do you have a formal Buy/Sell (or Operating) Agreement?

Is your Buy/Sell funded?

Does your Buy/Sell Agreement adequately protect your heirs, employees and partners?

Do you know where your Buy/Sell Agreement is kept?

Do you have a Will and a Living Will and are they up to date?

Will your Estate Plan address potential new government regulations?

Do you have a plan to retain key employees if something happens to you?

Have you had your Trust and Estate Plan reviewed in the last three years?

Are your assets protected from potential litigation?

Have you selected and documented your trusted advisors?

Do you have a formal succession plan prepared and on file?

Were your key employees and family members involved in your succession planning?

Have you selected, documented and spoken with your successor?

Do family members and employees know who you chose as successor?

Is there a disability provision in your Buy/Sell or overhead expense coverage?

Do you have contribution protection for your retirement account if you become disabled?

Have you documented your accounts, user names and passwords?

Does your company currently have a long term incentive plan in writing for key employees?

Is your current benefit plan designed to reduce turnover?

Have you done everything possible to ensure that compensation and/or benefits are not a reason an employee would leave?

Have you reviewed the company's benefit plan in the last 12 months?

Would your employees say they are sufficiently incentivized to turn down any job offer another company might give them?

Do you have investments other than your business?

Is your business income vulnerable to supply chain interruptions?

Have you created income from multiple sources outside your business?

Do any of your retirement assets have guaranteed, minimum returns?

Have you had your retirement income analyzed to identify shortfalls?

In the past year, have you spent more than one hour planning for retirement?

Have you determined and formalized your financial goals?

Are you proactively planning to deal with potential changes in the tax laws?

Do you have a financial advisor(s) working with you?

Will any sources of your retirement income be received tax free?

Do you have a formal, documented Exit Plan or Succession Plan?