Business Succession Planning
Every good business owner needs to seriously consider what will happen when he or she will no longer be running the company or when the time comes to take a less active role. Unfortunately, many business owners don’t begin thinking about this soon enough, and they see a different outcome for the future of their business than they would have hoped to see.
However, good planning, started early, will ensure a successful transition of your business. Whether you choose to transfer out of your current role or step out of the business altogether, it may be time for you to begin thinking about a Business Succession Plan.
We’ll work with you to structure agreements that outline the terms of transfer. Our succession planning professionals have experience in valuing companies and structuring successions that take into account management and financial realities. If you would like your business to remain in your family, we can work with our estate planning experts to pass on ownership interests in a fair and tax-advantaged way that works according to your expectations.
In the event of your unexpected death, a succession plan can preclude a forced sale and help ensure that your business continues to operate with minimal disruption the way you intended.