Business Succession Planning

Every owner must exit the business someday.  Sometimes it is by design, and sometimes it is forced by a crisis such as death or disability.  Advance planning leads to better outcomes, not only for the departing owner, but also for the business and its remaining owners.  

I have participated in the strategy, documentation and implementation of countless succession plans.  Each situation is unique, which provides interesting challenges and opportunity for creativity.  

Additionally, every business should have an emergency management plan to enable streamlined continuity in the event of an unforeseen death or disability.  An estate plan for transitioning ownership is not enough.  Management and operations the day after the crisis are addressed by the owner’s adoption of an emergency management plan that springs into action immediately.