Episode Summary:
In this critical episode, Brian Chew explains why every business owner needs a succession plan—whether retirement is decades away or tomorrow is uncertain. The discussion separates estate planning (who takes control) from succession planning (what they do next), explores the three exit options (close, sell, or continue), and stresses documenting institutional knowledge, buy-sell agreements, and the surprising tax advantages of a step-up in basis.
Key Timestamps:
00:01 – Show Introduction
01:00 – Why Start Succession Planning Now (Not Just for Retirement)
02:30 – What Happens Without a Plan: Chaos and Lost Value
05:00 – Step 1: Estate Plan – Who Instantly Takes Control via Trust
07:00 – Step 2: Succession Plan – What They Actually Do on Day One
08:30 – Three Exit Paths: Liquidate, Sell, or Keep Running
10:00 – Biggest Mistake: Keeping Everything in Your Head
12:00 – Coaching Families: Who’s Involved and Who’s Ready?
14:00 – Key Legal Tools: Buy-Sell Agreements and Operating Agreements
15:00 – Tax Surprise: Death Is Usually a Tax-Elimination Event (Step-Up in Basis)
17:00 – Closing Resources
About the Show:
“Estate Planning Beyond the Binder with Brian Chew” goes deeper than documents to protect families, businesses, and legacies. Brian Chew delivers 25+ years of real-world strategies so nothing you’ve built is left to chance.