You have created a valuable business through years of hard work. How can you ensure it continues or transfers successfully in the event of retirement, death, or disability? Will a family member inherit and manage it? Would you prefer your family own the business, but have it run by a skilled management team whose interests are in direct alignment with your beneficiaries? Do you want your business to sell for its highest amount under an orderly and nimble transfer process, that’s meant to deliver the greatest value for those you care about most?
One of the most important decisions you’ll have is to choose who will take on the responsibilities of ownership and management. You may already have a great team in place. Can they continue to successfully run your business? Do you have a detailed plan on how to hire or groom your ideal successor? If your family will be running the business, have you evaluated their different skills and matched them with your business needs?
Once decisions are made, you will need to train and develop the interim or permanent team you need to ensure success. No matter where you are on your journey, we can help you, your team and your professional advisors to better know what your options are and help you choose wisely for what matters to you most.