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Small Business Succession: The “If Brandon Dies” Document

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If you own your own small business (or businesses), and you died today, would your spouse/significant others/family know where or how to locate the vital information they may need to transfer any wealth you have accumulated?  That's the Question. And the solution is...the "If Brandon Dies" Document.

Here is a brief outline of the "If Brandon Dies" Document:

1) How are Properties titled - Which entity (Personally, LLC)

2)  Bank Accounts - I have 15 bank accounts (bear in mind, we have several LLC's and I have 4 kids).  Along with your bank accounts, perhaps list any stock/mutual funds accounts you may have. and by the way...if you have no real estate, and all your money is tied up into the stock market...you have possibly just lost 1/3 of your wealth and retirement in 1 week. That is probably sobering, but, a good reason to invest in real estate in the future.

3) Passwords - for anything and everything, online banking, apps, sites you use, health insurance, etc.

4) Computer/Ipad Passwords - what is the password or pin to get into your computer?

5) Where are your checkbooks located?

6) Accountant/Bookkeeper - who they are and how to reach them.

7) Attorney who Prepared your wills/how to contact them - If you haven't had a will drawn up, now is a perfect time. No better time than the present. If you have...document who drafted it.

8) Where to find your business operating agreements.

9) Life Insurance - Who is your contact person for it

10) Website Usernames/Passwords - if your spouse is going to pick up the torch and you use a website for your marketing...please put on the passwords sheet.

11) Old Tax returns - I have no idea what these may be needed for, but nonetheless, they made my list of something Annie may need.

12) Wills and Power of Attorneys - the physical documents should I become incapacitated.

Guys, I know this type of talk rubs some people the wrong way. I believe we owe it to our spouses and families to do the best we can to protect them with smart measures.

Take care and talk soon,

Brandon

PS. Do you already have a document like this? If so, what have you included that I didn't? I'm all ears and it would allow us to have some conversation going here so that others can add it to theirs.  Thanks!

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Real Estate Investor / Mastermind Leader, Stroke Survivor, Family Man, Triathlete.


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  1. [email protected]
    Hello Brandon! Hope you and your family are doing well! Thank you for the information!! I think of doing these things almost on a weekly basis but still doesn’t get done.
    We never know if we have tomorrow. I’m glad that you are recovered from your stroke… some don’t survive. My daughter had a stroke supposedly from a hole in her heart that was then repaired… my brother had several strokes that put him in care for over a year. Both are good today. Again thank you for sharing… as I get older.. all of the preparations like what you laid out, become more insistent!
    One thing I would add to your sheer, list the location of money “hidden” in the house. I have several bank accounts but also money on hand, sometimes quite a bit that I don’t want in the bank… otherwise your information was all the things I need to do… thank you!
    May God bless you and your family
    ……..Bonnie Kramer

    Reply

    1. Hey Bonnie, thanks for the reply, and the hole in the heart is exactly what they suspected for me also. a PFO. I had mine closed also.
      And Bonnie that is a GREAT. Where money may be stashed, if there are any fireproof boxes and how to access them.
      I’m going to add those to my list! Thanks for contributing and take care.

      Reply

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