Succession planning

Succession planning

As a business owner you have spent a significant amount of time and resources building and growing your business. You understand that your personal and business finances are closely intertwined. With so much invested and so much at stake, transition planning should be a top priority.

As you look to the future you may be asking yourself some of these important questions in one or more of the following four key areas:

Continuing to successfully run the business with the goal of eventually stepping away (Plan A).

  • What do I need to do to prepare my business for my transition?
  • Should I transition to family – consider a management buyout – or an outright sale to a third party?
  • What is the current value of my business and how can I increase it?


Assessing potential “what ifs” to determine Plan B if Plan A is no longer appropriate or attainable.

  • How do I protect my family and my business from the risk of an untimely event or premature death?
  • How do I manage conflict among my business partners?
  • Are my personal legal documents and business agreement in alignment?


Distributing personal and business assets upon retirement, death, or sale of the business. Because fair doesn’t always mean equal, estate equalization can be critical for ensuring family harmony over the long-term.

  • What can I do to ensure my heirs are taken care of?
  • How can I use my wealth to provide a lasting legacy for my family and my community?
  • When is the best time and best method of transferring wealth?


Maintaining your current lifestyle by implementing the right strategies to extract wealth effectively from the business.

  • Am I taking advantage of potential tax planning opportunities both personally and for my business?
  • Should I be considering a sale of the business to fund my retirement?
  • How much income will I need from the business after I retire?

We understand how important the family component is in the overall success of the family business. This understanding gives insight into helping you to balance needs and align priorities for both today and in connection with a transition plan. For instance, where family members are involved, this includes exploring their potential roles and acknowledging that different children or family members will have different levels of responsibility and motivation to be involved in the business both today and going forward. This helps to address any potential family dynamic issues, which could jeopardize or complicate a transition plan.

Financial independence comes with responsibility – and the need to ensure your family’s well-being now, and in the future. It’s time to work with a team that takes a wealth management approach and aligns business and personal goals to offer you an integrated solution for your business transition.