Advisors sometimes put it quite bluntly. “What happens to the business you have built if you get hit by a bus tomorrow?” It is an issue that has surfaced at many hedge fund investment firms in recent years -- not to mention that in 2021 the "bus" has become a virus.
The idea, of course, is to get the principal of a business to think: What would I want to happen? And perhaps to get him or her to develop a plan to bring that about, while grappling with the tax, estate planning, and regulatory issues . . .
Unlock this article instantly, along with the rest of our premium content and daily, weekly and monthly newsletters. We offer pay-as-you-go monthly subscriptions and discounted annual subscriptions with additional benefits: access to Alternatives Watch Research articles and our Annual Investor Compendium.