We are making headway in educating business owners and the general market on the differences between estate and succession planning, but we still have a very long way to go. I am constantly reminded of this in talking with business owners who repeatedly tell me “I’ve got it all done.” Upon further questioning, I realize what they mean is that they went through an estate planning exercise – they’ve got a will, a revocable trust, a buy-sell agreement, and some life insurance in a life insurance trust. Therefore, they believe that their succession planning is done. This couldn’t possibly be further from the truth.