Succession Planning

Succession planning is critical to maintaining and increasing the value you of your business as well as preserving and enhancing business owner’s wealth. Waiting until the last minute will not only damage your retirement opportunities but could damage the current state of the business. Developing leaders and offering key employees insight to the future of the company beyond the business owners, instills a long-term vision of opportunities.

We can work with your current accountant or bookkeeper if you are not already using our Outsourced Accounting Services.

How Do Our Business Advisors Map Your Succession Plan

We listen. Our business advisors ask the right questions to understand what is most important to you and your business.

We evaluate the information and provide what the different scenarios might look like upon retirement and then propose the guide to make your ideal scenario come to fruition.

You need a business advisor/CPA who can see the big picture. We can determine the employment needs, ownership opportunities, cash flow commitments, tax implications and risk associated with your choices.

Important Considerations Your Business Advisor Will Help You Plan For

  • Family-owned businesses harmony maintenance
  • Impact to different business entities
  • Tax implications
  • Establishing a value
  • Marketability of your business
  • Compensation planning
  • Life insurance planning
  • Monitoring and reviewing your plan
  • Retirement plan analysis
  • Defined Benefit and Profit Sharing Options

As a business owner and employer, the process of retirement is far more complex. The guidance of a CPA/business advisor is invaluable to avoiding costly pitfalls and mismanagement. An effective plan will take years to cultivate and develop into a successful succession plan. Begin discussing with our business advisors today…it is never too early!