Today, April 16th is National Advance Care Planning Day . It just so happens that this year, the Advance Care Planning Day falls within the time of a pandemic and so the topic of death and illness has been brought to the forefront of our thoughts. While we spend great amounts of time trying to avoid the elephant in the room, we will all face our own end of life one day. While none of us know the “when” we can know the “how”, we can build our own best end of life plans: stating our wishes, documenting them and sharing them with our loved ones and ensuring our family physician has a copy of our “plan” in our medical file.
After you have done this personal work, communicated it to your family and have had the hard conversations with who you wish to appoint to help speak on your behalf one day, you can then revisit your business plan and see how ready you are for an exit of your business. Take time to address the What if’s.
As with a business plan, your advanced care plan can be updated and changed as time goes on and is encouraged to be revisited as your life changes.
Here are some resources to get started: