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Business Succession Planning



Approximately 90 percent of the businesses in the United States are family owned. Unfortunately, studies show that two-thirds of closely held businesses fail to survive into the second generation.

Although owners often spend a lifetime building their business, many neglect to plan for its eventual transfer to their successors. This failure to adequately plan for management and ownership succession is a leading contributor to the low survival rate.


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Our Strategies

A number of accounting firms and business consultants offer business succession plans but only address ownership succession. They fail to plan for the successful transition of management responsibility. This is usually a fatal mistake since competent management successors are often the key to a business's survival during an ownership transition.

Our approach is comprehensive and some strategies include:

bulletEstate Planning - provides a contingency plan in the event the owner dies prematurely.
bulletManagement Succession - strategies for developing competent management successors.
bulletTransfers to Children - identify the owner's goal regarding the transfers and develop techniques to accomplish them.
bulletRetaining Key Employees - identify key employees and develop a retention strategy during an ownership transition.
bulletTransferring Ownership - designing a strategy for transferring ownership in the business at the owner's retirement.
bulletUnrelated Shareholder Planning - create techniques they involve complicated business ownership situations.
bulletRetirement Planning - designing a retirement plan strategy to meet the owner's retirement goals.
bulletFunding the Transfer - numerous funding alternatives and sophisticated funding methods may need to be developed.
bulletValuation of Closely Held Business - perform a valuation which may be required to properly establish succession planning strategies.
bulletBuy/Sell Agreements - establish techniques for the orderly transfer of ownership.
bulletEmployee Stock Ownership Plans (ESOP) - design options that might be used to transfer interest in a closely held business.
bulletEmployee Leveraged Buyouts - establish techniques to transfer ownership to the employees.


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Last modified: November 15, 2009