Jonathan W. Michael, JD

When Prince died, dealing with his estate wasn’t simple. Believe it or not, owners of metal fabrication and manufacturing businesses could learn a lot about how to preserve the value of their companies and other assets by studying the rock icon’s death.

Fab shop owners may avoid succession planning. They may be too busy, or the decision may be difficult. But nobody lives forever, and not having a solid succession plan in place puts the future of the business at risk.