Succession is the order or line of those entitles to succeed one another, whereby assets and liabilities are inherited and passed on to the next successor.

Business requires successor so as to further expand the business for continuous growth into millions, billions and even trillions worth of business entity.

In order to do so, a succession plan and course of action has to be put in place before the problem even surface. Planning strategies are the surest and best way to allow the system to be in a prime position to become the next supreme leader in any arena for growth.

It also takes place in families whereby assets are frequently argued and snatched among family members when a elder family member is about to leave. Than the liabilities which often come with health care etc usually gets pushed and kicked around like a soccer ball to one another.

If you have experiences of such events and happens to be part of the process, you will understand why the wealthy and successful people are who they are today whereas the poor only take the assets and kick away the liabilities.

It is their reluctance to learn how the liabilities became a issue and solve it like a bomb disposal squad thus in future there will not be any impending bombs of liabilities growing without your knowledge.

That’s the benefits of absorbing liabilities; learning from other people’s mistakes is the best way to cut short our learning curves.

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