Why Should You Have a Current Practice Valuation?
The same reason you have life and disability insurance, to protect your family. Most family members have no idea what a practice is worth or where to find the documents necessary to have it properly appraised and they don't know who to call to have it appraised or sale it.
In the event of Practice owner's death, the practice decreases in value 5% per week. 50% of practices go unsold should the owner die unexpectedly. In addition to dealing with the loss of a loved one, the unprepared family is often unable to cope with the practice until it's too late. It doesn't have to be this way: You can prevent it by having a current practice valuation and informing the appropriate family members of the practice value and of who they should call to handle the practice sale in the event of your death.
Your appraisal or valuation should be updated yearly. This can be done for a minimal fee. This will give you great peace of mind and will make things much easier on your family in the event of a tragedy.
The Snyder Group/Henry Schein Professional Practice Transitions have done thousands of practice valuations. Let us know if you need our help.

