When it comes to advising clients, small biz investors are a whole different ballgame.

The wealth of entrepreneurs is usually tied up in the businesses they are building, inheriting or looking to sell—sometimes, all at once, says Financial Planning’s Ann Marsh.

Financial Planning recently spoke with several U.S. advisors who’ve spent decades working with business owners. Here are 4 key tips they offered:

Read: Tax tips: catering to small business

1. Exit strategy

Ask a business owner to describe her ideal exit strategy. Many owners are so caught up in the day-to-day demands of running their company, they don’t think about this crucial issue. There are three main exit routes: selling, turning it over to family members or liquidating.

2. Buy/sell agreements

This binding agreement—viewed as a kind of business will—is critical for companies with co-founders, since it predetermines who can buy a departing partner’s or shareholder’s share of the business, what events can trigger a buyout, and at what price a partner’s interest in the business can be sold.

Urge owners to create a fully executed contract. Without one, the death or departure of one partner can spell disaster for the late partner’s family and for the surviving partner.

Read: What do small businesses want from advisors?

3. Cover all bases with insurance

Life and disability insurance play key roles in the continuation of small businesses. If a founder dies with most of his wealth wrapped up in his company, estate taxes can gobble up half the value of a company and force its sale.

Read: Help business owners succeed

4. Treat all children and inheritors fairly

Developing family business succession plans, along with splitting inheritances, can be tricky. If a family is feuding, tell them they may be better off liquidating the business and distributing profits among all members, rather than executing a succession plan doomed to fail.

See more on how to help business clients: 7 more tips to help small biz owners

Also, read: Small businesses lag on succession planning