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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