Succession Planning for Business Owners

What We Can Do For You

Simply put, our Business Succession Planning service provides business owners peace of mind – the kind that comes from knowing you are well-prepared to relinquish control of the business on your own terms. And we do that by ensuring that the stewardship of the business passes into hands that are designated and approved by you - the business owner.

But succession planning is not just about designating a particular individual or group to step in after you’re gone. Our Business Succession Planning team lays out a comprehensive process for identifying, screening, grooming, and ultimately transitioning ownership to your designated successor/s when the time comes.    

Here’s a preview of what our Business Succession Planning service covers:

  • Strategizing succession: Helping you identify the ideal succession strategy based upon any number of “end game” objectives that you have in mind: Maximize sales proceeds. Minimize tax implications. Create a lasting legacy. Assure a comfortable retirement.

  • Building succession plans: We’ll consult with you about possible succession strategies: Pass the business on to your next generation? Hand it over to designated/trusted employees? Have professional management teams from outside step in and take over? Sell the business to a competitor and pass the proceeds to your heirs? Go public, leaving it up to the Board of Directors to deal with the company’s future?

  • Understanding the impacts: Together, our Succession Planning experts will walk you through all of the legal, financial and tax implications for each of the various succession scenarios proposed. This impact analysis will help you determine which of the succession approaches makes best sense for you and the business   

  • Identifying successors: Depending upon which strategy you choose, we’ll work with you to identify a list of skills and qualities needed in your successor. This phase of our Succession Planning often results in recommendations for training or mentorship well in advance of your exiting the company

  • Multi-disciplined advice: In the event that the plan involves selling all or part of the business, our experts will work with a team of advisors, including Financial experts, Accountants, Insurance Agents, Realtors and Estate Planners to determine a fair and equitable valuation for the business

  • Relationship-building: Finally, we’ll work with you to establish a comprehensive timeline for key milestones within the plan. And because our service is based on a long-term relationship, we’ll continually monitor and consult with you as your succession objectives evolve or change