Business Succession
What Are The Benefits Of a Sound Succession Plan?
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Ensures a proper valuation of the business interests, reducing the possibility of conflict between successors.
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Drastically reduces the cost and time required for settlement of the deceased’s estate.
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If properly funded, can provide cash flow for operations when the business needs it the most. This can prevent the forced liquidation or sale to third party due to cash flow.
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Elimination of conflict between active and inactive children.
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Ensure ownership remains within your bloodline.
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Peace of mind.
The Bottom Line
Business owners seeking a smooth and equitable transition of their interests should seek a competent, experienced team to assist them in this matter.
If your objective is to continue the business after death, and not have it liquidated or sold to a third party, several options and considerations are possible.
Transition To Family Or Family Sub-Groups
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Active vs. Inactive Ownership
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Conflicting Interests
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Estate Equalization
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Criteria (age, education, time in business)
Transition To Employees
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Key Employee Retention to assure they remain at the company.
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Equitable balance between employee ownership and value passed on to heirs.
Management Buy Out
Qualified team of people, hand-picked, that can continue operations and handle the proper administration of your succession plan.