Succession Planning

One of the more significant responsibilities that owners have is to provide for the  continued successful operation of their business beyond themselves.  This involves providing for the successful transition of the business from one generation to the next.  Transitions don't  happen overnight.  It takes planning and preparation.  It takes time to prepare not just the next generation, but the business as well.

Studies have shown that there are four factors that significantly improve the success of generational transitions.  They are:

• Good communication amongst family members.
  
• Preparing heirs to assume ownership responsibilities.
  
• The articulation of a clear Vision and Mission so that family members are aligned.
  
• Competent legal and tax advice to address tax, governance, and wealth preservation issues.

​Call me or email me if you're interested in discussing this further.  ​