Key Business Succession Issues

Relevant For:

Business owners planning for succession.

Key Points:

  • Identify a suitable successor — child, key employee, or external party.
  • Develop a detailed succession plan: timeline, ownership transfer, roles.
  • Ensure successor meets milestones; consider 'Buy-Sell' Agreements.
  • Plan financing: cash, shares, debt; consult advisors for tax implications.
  • Use the transition to restructure and update business documents.
  • Update personal estate planning post-transfer.

Full Article:

Business succession planning is essential for ensuring a smooth transition of ownership and protecting your hard-earned assets. Here’s practical advice on key aspects of business succession:

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