I know little of the law and would be foolish to attempt to dispense legal information or advice. As such, this post is not an attempt at either, it's just a reminder to prepare and seek solutions.

What happens to your business when you die? Not the happiest thought in the world, but one all business owners should contemplate. More so, if you have surviving family.

Life insurance takes care of family members, but what about your business? Your survivors have to deal with what you leave behind. Here are some things to think about and prepare for:

• Who has access to your business bank accounts?
• Who has access to your company's financial records?
• Who is authorized to make decisions immediately after you pass?
• If you're in a partnership what happens to your interest in the business? And what happens to your partner?
• Are your records complete and up to date relative to creditors, vendors, customers, and accounts receivable?

A little over a month ago, my father passed away...cancer. When my Dad passed, he was 50% owner in a business he'd owned for 20 years. As a surviving family member and executor of his estate, I've learned several things about business and estate planning that I previously were unaware of, things that are common sense, just unpleasant to think about and prepare for.

There were many things my Dad did that prepared us for his passing, some we could have done better.

The point of this post is don't put off planning for survivors and the survivability of your business. As uncomfortable as it is to think about, our passing is one thing we cannot avoid. Be prepared.