The Corporate Living Will™
Protecting your company when it most needs it

When the Future Becomes the Present

It usually takes a “trigger” event (the decision to take an extended leave from the company, retirement, death or serious health issues on the part of the founder) to force a family owned business to address the survivability of the family business. Matters such as the transfer of values, of leadership, of ownership are not part of the thinking or planning in most closely held companies, and this is particularly true in family owned businesses. There is often the assumption that the next generation will pick up the mantle and perpetuate the legacy the founder has created. Additionally, there is a reluctance to acknowledge that conflict may arise as a result of certain business decisions or actions and family owned businesses rarely put dispute resolution mechanisms in place to allow disagreements to be aired and dealt with in ways that minimize expense and family tensions.

Having often spent much of their lifetime building a business, most business owners cannot see their company's future without simultaneously seeing themselves in the picture. The last thing on their mind is the need to plan for succession, after all, it's their baby , who else will care for and nurture the company in the same way? But that begs the question…what will happen to the business if the owner is not in charge?

It is in response to this critical question that The Corporate Living Will™ was created. The Corporate Living Will™ is a document designed to protect your company in the event that you are no longer able or willing to manage your business. The Corporate Living Will™ provides a medium for protecting your company's future; both from an operational and market perspective.

It's a means of articulating your corporate wishes, strategically, organizationally and in terms of protecting customer relationships. It addresses the how, what and when constituting the successful continuation of the business.

In addition to articulating your strategic objectives for the company The Corporate Living Will™, among other critical factors, provides a medium for addressing:

how you would like business matters handled and by whom; critical issues/concerns; key information decision makers need to have; dispute resolution; and the relationship of family to the business and business assets.

Living Wills are not new ideas; they've legally protected the interests of individuals for many years. Since a corporation is an individual in the eyes of the state shouldn't it have the same protections, the same advocacy as any other individual who may temporarily be unable to make key decisions or determinations? The Corporate Living Will™ provides an innovative and valuable resource that ensures the continuity of your business and protects the financial investment you've made. It is also a means of assuring that your legacy, your ideas, your goals and business construct are perpetuated. It is designed to be an interim document; not a replacement for a personal will or other estate plans or corporate documents.

The Corporate Living Will™ is designed to round out the protection of your company by acknowledging all contingency situations that may arise. After all, when you think about it, it took a long time to build your company and achieve the level of success you deserve for your efforts. Shouldn't you have the tools in place to protect your investment?