Planning for Business Succession
Business succession planning is essential for business owners because the business is often the largest asset in the estate.
It is not just a tax decision. Without a clear plan, a business may struggle to transfer smoothly or achieve its full value in a sale.
A well-designed succession plan helps define what happens next. This may include passing the business to family, transitioning ownership to partners, or creating a path for key employees to take over leadership.
Succession planning also helps protect the continuity of operations. It can reduce disruption, preserve relationships with clients and staff, and support long term business stability during periods of transition.
From a financial perspective, succession planning helps align ownership goals with retirement income needs, estate considerations, and risk management. These elements must work together to support both the business and the personal financial picture.
This material is for educational & informational purposes only & is not intended as ERISA, tax, legal, or investment advice. If you are seeking investment advice specific to your needs, such advice services must be obtained separately from this educational material.
