Business Succession Planning

Planning for the future of a company should not be an annual “check the box” activity. This is especially true with business succession planning. A comprehensive plan that addresses multiple variables over several years is optimal to yield the most profitable exit for a business owner. Unfortunately, most are so busy managing the day to day affairs of the company they don’t have time to address these important issues. This leads to an owner being forced to make quick decisions because of market conditions, a personal issues or financial concerns. All too often the result is the transfer or sale of the business occurs at terms much less favorable than originally anticipated.

The truth is that succession planning requires years of preparation and planning. Whether you are seeking to sell the enterprise or pass it onto the next generation there are steps to take now that it will impact the final transaction. Management transition, financial positioning, tax planning and transaction timing are all important considerations that should not be downplayed. Beyond this consideration should be given to the lifestyle and income needs of the owner once the transition has occurred. For this reason, it’s essential to work with professional advisors that can help prepare for and guide you through the process.

SUCCESSION PLANNING SERVICES

We specialize in planning and compliance for business owners and their families with services that include:

• Succession Plan Development
• Business Valuation
• Business Restructuring
• Buy/Sell Agreements
• Negotiating Assistance
• Financing Arrangements
• Retirement Planning
• Transactional Tax Structuring
• Estate Planning