Succession Planning

Successful business owners need to plan for circumstances that may arise as they build their company, as the company matures, and as the owner looks forward to passing the enterprise along to others.

Approximately 62 percent of privately held companies will transition to new ownership over the next 15 years. Fully half of all transitions are unexpected, attributed to the five Ds: death, disability, divorce, distress, or disagreement.

Privately held businesses need to consider and plan the next steps for the future of their business. Whether you own a family business or are part of an executive team managing the business, it is increasingly important to create a succession plan. 

Beyond planning to transfer leadership responsibilities, there are also ownership interests to transfer, which is also complex and requires careful tax planning.

Careful succession planning is essential for the successful transition of your business to the next generation. Our experience and perspective as an independent advisory specialist enable us to make recommendations that will align with your goals for business success over the long term. 

It begins with a readiness plan. Our team can help to establish a readiness plan for a successful transition, including its effect on family members today and for generations to come, that will ensure your company can survive … and thrive … far into the future.

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Business & Wealth Transition For Business Owners

Building a successful business takes decades of vision and hard work. But transitioning that business — and the wealth tied to it — is where many owners feel the most uncertainty. Whether you plan to step back soon or simply want to be prepared for the unexpected, Boyer & Ritter can help you protect the value you’ve created and ensure a smooth handoff to the next generation.

Transition & Succession: Protecting What You Built

A strong transition doesn’t happen by accident. It requires planning, clarity, and the right strategy — especially when family and business interests overlap.

Owners often ask us:

• “How do I make sure my business survives after I’m gone?”
• “How do I transition ownership fairly?”

Not every heir is involved in the business, and those who may bring different skills, motivations, and expectations. Splitting an illiquid business fairly — while maintaining control, continuity, and liquidity — is rarely straightforward.

Boyer & Ritter works with owners and advisors to design practical, tailored strategies so you can:

• Keep the business stable and well‑managed
• Strengthen family alignment
• Transition ownership in a way that fits your values and long‑term plans

Family-Owned Business Strategies

Every family is unique, so our approach begins with an understanding of your goals. Strategies may include:

• Lifetime gifting from the current structure
• Restructuring or selling the business to heirs or a trust to lock in value while securing owner equity
• Coordinating management succession, whether the next leader is family or a trusted non‑family executive

If Transitioning Outside the Family

Whether you have a strong management team ready to step in or you’re considering a third‑party sale, Boyer & Ritter can help:

• Establish a transition structure now — while you can negotiate terms
• Ensure continuity and preserve business value
• Identify potential buyers with trusted advisors and guide you through a fair, thoughtful sale process

Estate Taxes: A Hidden Threat to Family Wealth

Estate taxes can create major liquidity pressures at exactly the wrong time. With fluctuating federal limits and state-level taxes, proactive planning is essential.

In 2026, the federal exclusion is $15 million per person ($30 million per couple) — a threshold quickly exceeded when estates include all assets including retirements, real estate and life insurance.

Boyer & Ritter can help a family:

• Recapitalize the company to leverage transferred value
• Use trusts and estate strategies to protect gifted value
• Build liquidity without disrupting the business

De-Risking & Diversifying Wealth

Many owners have much of their wealth tied to the business. Boyer & Ritter helps you gradually de-risk and diversify, strengthening your personal balance sheet and creating a foundation for multigenerational wealth.

Preserving Wealth for the Next Generation

Unexpected events — death, disability, lawsuits — can threaten both the business and family security.  Boyer & Ritter can help build a clear, protective plan so your family knows exactly what to do, when to do it, and how to protect what you’ve built.

You’ve worked hard to create this opportunity. Boyer & Ritter is here to help you protect it for generations to come.