Without proper planning, the sudden disability or premature death of a practice owner may result in the business being liquidated or sold to outside parties.
Surviving family members may have to become active in the business; to the extent they are capable.
Statistics show that the practice looses significant value after a period of 60 days following a catastrophic disability or death of a dentist.
Having a Practice Continuance Plan in place helps ensure the viability of a practice during the critical time while a potential buyer is identified in the event of a sudden disability or death of a practice owner.
Frankly, there is never a comfortable where can time to contemplate this topic, however, it is our experience that once a plan is in place, it can provide a level of assurance that critical matters are covered and a plan is ready to be implemented if the need arises. It can provide a sense of security to loved ones as well.
Reach out to us to learn more or to schedule a Practice Continuance Planning session with our trusted team members.