For the sake of your loved ones / significant other, make sure you do your documentation, proper code control, and procedures so that they can sell the company if something bad should happen. It's good discipline and will allow someone else to take over (or be prep for when you hire staff so you can go on vacation).
I've never brought it up with family, but I have a "should I die" list of instructions for quickly winding down my business while minimizing effects on customers in a safe in my bedroom. The key to the safe is on my key chain so it'd get opened sooner or later.
Yes, the "hit by a bus" scenario. This actually is a good point that should be raised, but just as with the "moral weight" argument if you can reach OPP fast enough then you can start hiring and avoid this problem.
