Who do you pass your business onto when your retire or pass away?

[Grant]

When you retire, do you plan to hold onto the company and stay CEO or leading it? Or do you let someone else take control of the company and let them work. Of course you could still profit from the company, but you probably might not have as much control in the inner workings of it. As well, what do you do when you pass away? Does the ownership of the company go to a family member? Maybe a co-partners? Or maybe higherups who supported you through the company?

 

[Kane]

In our country, your kids are the legal heir to anything you own, including business, properties, and even debt. Kids not only get your wealth but also have to bear the responsibilities of debt. Hopefully, I will pass my business to my kid.