A lot of attention is being paid in the media to COVID-19's epidemiology and economic impact, but Jack Veale brings to light the human cost of waiting too long to organize for what happens after the funeral of a business leader.
HARTFORD, Conn., October 22, 2020 (Newswire.com) - When a business leader passes away (whether as a result of the recent pandemic or as a result of more common causes) there are hundreds of details that must be addressed. In the fourth section of Jack Veale’s Sudden Death Checklist, the internationally-recognized author and business succession consultant demonstrates the critical nature of getting the post-funeral details right.
Jack Veale said, “The post-funeral time is critical for both the business and the family. If there isn’t a detailed plan and pre-arranged resources in place going into this stage, the family experiences more pain, and the business is put at risk.”
The post-funeral section of the Sudden Death Checklist workbook enables families, key business associates, and trusted advisors to work with the business leader well in advance of his/her death. Getting all the essential information down on paper allows the parties involved to address the hard questions to build a plan that the business and family can execute in the unfortunate circumstance of the business owner’s untimely death.
A few of the dozens of subjects addressed in the fourth section of the Sudden Death Checklist Podcast are:
· The business owner’s wishes regarding the disposition of the company
· Access for the family and business to passwords and social media logins
· Considerations for long-time or mission-critical employees
· Will and trust documents
· Estate and trust distributions
· Financial reporting and tax filings
· Outstanding claims, litigation, court filings
· Outstanding company debts and liabilities
About the Sudden Death Checklist:
The workbook is intended to be used by business owners, trustees, and executors in conjunction with their key advisors (such as the family/corporate lawyers and wealth advisors) and their spouses/partners. It guides them in the process of working through the gathering the information that is required in the case of the business owner’s sudden death.
About Jack Veale
Jack Veale, CMC, is an internationally recognized consultant, who advises closely held, family-owned companies, including ESOPs, on business succession, ownership strategy, and leadership development. Jack uses many tools to assess the organization on culture, leadership, and operating performance. Over the last 25 plus years, Jack has assisted hundreds of companies in many industries and countries, offering solutions covering strategic planning, succession planning, corporate governance, team training, and crisis management.
Jack has authored or co-authored several books, including “Creating Strategic Innovation,” “Don’t Do That!” and “Sudden Death Checklist.”
To learn more about the “Sudden Death Checklist,” please contact
The “Sudden Death Checklist” Launch Team at:
48 Walkley Road, West Hartford, CT 06119-1345
Source: The Sudden Death Checklist