One of the most critical components of your family and business planning is that of succession. Who will take over when you retire? Will there be a buyer for your business?
Succession Planning provides for the orderly and desired transfer of your business and other assets upon the occurrence of a life event. If these events are identified and actively anticipated, enormous costs can be saved and sometimes eliminated, such as:
- Out of pocket funds required to purchase a business from a Co-Owner
- Estate, Income and Gift Taxes
- Accounting, legal and litigation fees
- Human costs such as contention, lack of control, and chaos
Succession planning will eliminate a crisis. Reasonable expectations can be clarified and established boundaries can be set; timelines can be established.
We strategically plan for your eventual Business Exit by:
- Identifying your succession planning desires and objectives
- Establishing methods for valuing a business
- Identifying and evaluating succession strategies consistent with your desires and objectives
- Drafting legal documents required to implement your succession plan
- Funding the succession plan
- Reviewing, monitoring and updating your plan on an on-going basis
Buy, Sell, and Succession Services
- Buy/Sell Agreements
- Succession Strategy
- Insurance Funding of Succession
- Exit Planning
- Retirement Planning
- Disability Planning
- Passing Business to Heirs
- Employee Stock Option Plans
- Sale of Business
- Stock Redemptions and Purchases
- Protection of Business Ownership in event of Divorce, Bankruptcy, Death of an Owner, etc.