Sunday, August 26, 2018

Don't worry, I haven't given up beer.

I've just been busy with life - work, mostly, but also working on my own personal estate planning. While I hope these documents won't be needed for a very long time, it's necessary to plan for what happens once I'm gone.

Speaking of which, what happens when you're gone? Succession planning in the beer industry is a big topic. Many breweries start in garages with friends or family and sometimes grow into larger businesses with formal business arrangements, often with those same friends or family members as business partners.

What happens when one partner wants out? What happens when relationships sour? What happens to the business when a solo brewer wants to retire?

Having formal arrangements for one's demise (whether personal or professional) is an integral part of life. No one likes to think about it, much less talk about it. It always seems like something that can be put off until later.

It's not fun but do it anyway. Get started and put it on paper. Get help, if you need it. If you don't know where to start, contact me. I'm no expert but I know a few people who can point you in the right direction. Believe me, not having a plan can ruin relationships as well as businesses. It's just one of those things required of mature adults as well as mature businesses.

Remember, mature people get to drink beer so don't just plan to get a beer. Get a beer and start planning!

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