A number of my friends and birds-of-a-feather on the Internet run closely-held companies which range in scale from side project to materality. Below some cut-off, succession planning is hard.
Common question: If I die, what happens to this thing that throws off $Xk per month?
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And you can do a really involved engineering + legal project to have a will, corporate structure, defined processes, consultancy on retainer ready to step into the breach, etc etc. Or you can buy a big fat term life policy on yourself and, if you die, family covered servers not.
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Matt Levine had an interesting example of financial engineering (lynx insurance against dead sheep) that he talked about in his newsletter today https://www.bloomberg.com/opinion/articles/2019-02-05/senators-are-worried-about-stock-buybacks …
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What was the instance? if you can share on a high level
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