Protect Your Business From the 5 D's

This podcast addresses the five Ds—Divorce, Disagreement, Distress, Death, and Disability—and their potential impact on a business. It emphasizes the importance of legal preparedness through documents like prenuptial agreements and buy-sell agreements, strong contingency planning for various risks, and well-defined roles and processes to ensure business continuity in the face of these challenging events. We highlight the severe consequences of neglecting these areas, potentially leading to business failure or significantly reduced value. Ultimately, proactive planning is crucial for mitigating these risks.