For Business Owners
Given that your succession plan should be built around the unique characteristics of both your family and your business, every succession plan will be different. However, there are several common elements to most successful plans, including those listed here.
Developing your plan now will make for a smoother transition in the future.
Since a variety of expertise is required, it is important that you work with an appropriate team of experts to help you develop your business succession plan. This team should include tax, legal, insurance and investment representatives.