Business Succession Planning
What is it?
Every company that exists is subject to a succession plan. Succession plans are intended to transfer the ownership of a business while leaving the business in the best place to continue to operate successfully. Succession plans can be found in operating agreements, partnership agreements, buy-sell plans, estate planning documents, and if no plan has been established, state law dictates to whom and how the business transfers.
Financial obligations may come due on the occurrence of certain transition events. Determining how the business will be affected as a going concern is the focus of our team. We identify the obligations triggered by death, disability, and retirement and show our clients how to mitigate financial risks in each of these situations.
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Finance Corner
Business succession plans are meant to keep a business going after the transition of an owner, not create cash flow issues.
Our team is equipped to show you how to properly setup your plan.
Connect with us for a no-cost consultation on your deferred compensation plan.