Do you want your business to live beyond you?
I know it’s not urgent but consider business succession planning. Its critical.
Maybe you would like to retire one day. Sell your business. Transfer to family? In all of these situations you need a good succession plan.
Here are some key elements of a good succession plan:
- Identifying and training potential successors.
- Proper valuation of your business.
- Minimize tax implications to you by a good transfer structure.
- Dealing with potential conflicts amount family members/partners.
Work up a well-crafted plan and stay in peace through the transition.
Want to talk about succession? Give us a call today.