Over time, business owners spend a lot of blood, sweat, and tears crafting a good business plan, finding an appropriate corporate structure, and seeking the best possible financing options for their businesses. However, the one part of their businesses which is often overlooked is succession planning. Nobody is going to be able to run a business forever, so all small business owners should have a plan in place for what will happen to their company upon their death, disability, incompetence, bankruptcy, or retirement.