Dan:


Smart. Such an agreement can also locks in the price for both parties. How will you be protected in the event of David’s death or disability? And David in the event of your death?


Joseph: Both will be insured with life and disability insurance.


Dan:


Insurance is a great way to guarantee that business succession plans will be carried out.


Joey Leon joined Dan as an Associate Advisor at Ambassador Advisors to help his own business succession. As Dan and Joey work closely through the years, Dan has brought Joey up to speed on the Eagle Family plan.


Joey’s role in this plan is to ensure the plan is running smoothly throughout the entire process. Today, Joey will focus on getting to know Ruth, the next in line to succeed her father in the business her grandfather founded. Joey can guide her now to ensure she is in the right place when her time comes.


12 • Ambassador Advisors Joey:


Joey: Ruth, how do you see your role in the company changing when your grandfather retires?


Ruth:


I really see myself taking over the roles and responsibilities that my father was in charge of. I’ll be the junior partner now, like Dad has been for years.


Tat is great! As you transition into this new role, there are a wealth of planning and leadership resources that we can explore to put yourself in the right position, if we want to be sitting here in twenty years discussing you taking over the family business.


Ruth:


I look forward to that! I really foresee myself taking over the business one day and would love to talk about what I can do today to get me in a position for that down the road.


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