You have worked hard to get where you are today. If you are like most business owners, you have spent a lot of time building your business, but not enough time in planning how to preserve the value of your business.

Succession Planning covers:

  • Identifying the issues surrounding the development of the next generation of management, regardless of whether you plan to sell or keep the business in the family.
  • Deciding when and how to transfer your business with the least tax consequences.
  • Minimizing the impact of taxes so your family, your company and your employees are not at risk.
  • Executive compensation planning.

 

The most important steps for effective Succession Planning are:

  • Establishing Owner Objectives
  • Establishing Business Value
  • Building Value and Cash Flow
  • Selling to a Third Party for Top Dollar 
  • Transferring to Management or Family Members 
  • Developing a Contingency Plan for the Business 
  • Family Wealth Preservation Planning  
Even if you have a business continuation plan in place, you will benefit from an independent review, in light of recent tax law changes. Our work is designed to make sure you have the right plans in place to protect your business, your family and your employees.