“COVID is making many companies face transitions much more quickly than they would have otherwise. The volume of details that must be dealt with and the decisions that must be made quickly are taking businesses and families by surprise.” – Jack Veale, Internationally Recognized Business Succession Consultant
HARTFORD, Conn., December 1, 2020 (Newswire.com) – Businesses are going into the COVID-19 death of their founder without a plan. This puts both the company and the employees’ livelihoods at risk. In his Sudden Death Checklist workbook, Jack Veale helps company owners, their spouses, their children, and their close advisors (financial, legal, religious, etc.) work systematically through the hundreds of decisions that must be made.
Here are a few of the topics covered in the workbook on the business side.
· What to do with the items in the deceased’s work office. (Sorting between what is owned by the company and what is personal and should be returned to the family.)
· Keeping key managers on board.
· Updating bylaws
· Dealing with partners, shareholders, directors, and ESOPs.
· Tackling the insurance paperwork
· Navigating between the company and the founder’s family
· Communicating with employees and the press
· Executing buy-sell agreements
· Establishing the next leadership team
· And much, much more
Having a comprehensive resource like the Sudden Death Checklist that can put all of the stakeholders on the same page in such a turbulent time can save money, time, and confusion for the founder’s family, the employees, and the stakeholders.
About the Sudden Death Checklist Workbook:
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 gathering the information required in the case of the business owner’s sudden death.
The workbook includes comprehensive checklists and instructions for an array of topics.
By using the “Sudden Death Checklist” that the business owner has wisely left behind for them, the surviving family and his company have easy access to all the documents that will be needed to process the estate and transition the business.
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: PTCFO Inc.