Comprehensive Guide to Business Succession Planning in Tennessee
Business succession planning helps owners prepare for a smooth transition of ownership and management when an owner retires, becomes incapacitated, or passes away. Effective plans address governance, transfer of ownership interests, valuation methods, tax implications, funding mechanisms and operational continuity to minimize disruption to employees, customers and family relationships. In Westmoreland and across Tennessee, coordinating corporate documents with wills, trusts and buy-sell provisions can reduce delays and administrative costs. A practical plan also addresses leadership development, dispute resolution procedures and contingency funding to preserve business value and maintain goodwill during changes in control or ownership.
A sound business succession plan aligns the owner’s personal goals with the needs of the company and family members who may be affected by a transition. Planning often begins with identifying potential successors, assessing business valuation, and choosing an appropriate transfer mechanism such as a buyout, sale or gradual ownership shift. Effective planning anticipates tax consequences, funding needs and governance updates that keep the business operational during transfer. For Tennessee business owners, early and realistic planning can reduce the chances of costly probate, operational disruption and family disputes when a change in leadership occurs.
Why Business Succession Planning Matters for Your Company
Succession planning provides clarity about who will run the business, how ownership will transfer and how value will be preserved over time. It benefits companies by reducing uncertainty, setting expectations for leadership, and creating a roadmap for financing buyouts or transfers. Well-structured plans can protect relationships among family members and co-owners, reduce litigation risk and help maintain customer and employee confidence. For businesses in Westmoreland and nearby communities, planning that reflects local probate rules and tax considerations can keep operations stable and help ensure a seamless change in control when life or business circumstances require a transition.
About Jay Johnson Law Firm and Our Approach to Business Transition Planning
Jay Johnson Law Firm serves Westmoreland, Hendersonville and surrounding areas of Tennessee with a practical focus on estate planning and business transition matters. The firm collaborates with business owners to identify priorities, draft governance and transfer documents, and coordinate plans that align personal and business goals while minimizing probate delay and administrative burden. We explain options in clear terms, prepare buy-sell agreements, wills and trusts, and help structure funding for buyouts and contingencies. Clients appreciate direct communication and local knowledge of Tennessee probate rules, which supports continuity and helps preserve value during ownership changes.
Understanding Business Succession Planning and What It Covers
Succession planning for a business encompasses several legal and practical elements designed to move ownership and management smoothly from one party to another. It often includes drafting or updating corporate governance documents, buy-sell agreements, personal estate documents and funding arrangements such as retirement buyouts or insurance-backed funding. The goal is to provide predictable outcomes for owners, families and employees while addressing tax impacts, valuation methods and potential disputes. In Tennessee, aligning business transfer documents with estate plans reduces the need for probate intervention and speeds the transition process when an owner steps away.
A practical succession plan balances the business’s operational needs with the owner’s financial and family goals. That means creating clear decision-making authority, identifying successor managers, setting valuation standards and agreeing on buyout terms. It also means addressing contingencies like incapacity or unexpected death so the company can continue operating without protracted legal interruptions. Implementing these elements early gives owners greater control over outcomes and provides the business with continuity that reassures employees, lenders and customers during periods of change.
Defining Business Succession Planning in Plain Terms
Business succession planning is the process of creating legal arrangements and practical procedures to transfer ownership and management of a company in an orderly way. It covers decisions about who will own the business, who will manage it, how ownership will be valued and paid for, and how disputes will be handled. The plan can include wills, trusts, buy-sell agreements, amendments to operating or shareholder agreements, and funding mechanisms to finance buyouts. The objective is to ensure the business survives ownership transitions and that the transfer reflects the owner’s intentions while protecting stakeholders’ interests.
Core Elements and Processes in a Succession Plan
Core elements of a succession plan include choosing successors or buyers, establishing valuation methods, drafting transfer agreements, arranging funding for buyouts and addressing governance changes. The process usually starts with an inventory of ownership interests and business assets, followed by valuation, negotiation of terms among owners or family members, and formal documentation. It is important to align business documents with personal estate plans to avoid conflicting instructions. Regular reviews and updates ensure the plan remains effective as the business and family circumstances change over time.
Key Terms and Glossary for Business Succession Planning
Understanding common terms used in succession planning helps owners make informed decisions. Terms such as buy-sell agreement, business valuation, funding mechanisms, buyout triggers and continuity provisions each have specific roles in a plan. Knowing how these pieces fit together clarifies expectations for owners, potential buyers and family members. This glossary overview introduces those concepts and explains why each matters in structuring a dependable transition that preserves business value and reduces the potential for disputes or operational interruptions during ownership changes.
Buy-Sell Agreement
A buy-sell agreement is a contract among owners that sets out how ownership interests will transfer on specified triggering events such as retirement, disability, death or a desire to sell. It defines who may buy, how the interest will be valued, and the payment terms. Buy-sell provisions help avoid disputes among surviving owners, family members and outside buyers by establishing a predictable method for transfer. Funding clauses are typically included to ensure the business or remaining owners have the resources to complete a buyout without disrupting operations.
Business Valuation
Business valuation is the process of determining the fair value of a company for purposes of transfer, sale or buyout. Valuation methods vary depending on the size and nature of the business and may include income-based, market-based and asset-based approaches. Agreed valuation procedures in planning documents reduce conflicts when a transfer occurs. Accurate and well-documented valuation practices help ensure that buyouts reflect the business’s true worth and that all stakeholders understand the basis for payments during a succession event.
Succession Timeline and Triggers
A succession timeline sets expected milestones for transferring ownership and management and identifies triggers that initiate the process, such as retirement, incapacity or significant life events. Defining triggers clearly in governing documents helps ensure an organized response when circumstances change. Timelines may include phased ownership transfer, training periods for successors and dates for review. Well-defined triggers and a realistic timeline reduce uncertainty and allow the business to plan for financial provisions and leadership transitions without abrupt interruptions.
Funding Mechanisms for Buyouts
Funding mechanisms provide the means to pay for ownership transfers and can include insurance-backed payments, installment plans, company-held funds, external financing, or a combination of sources. Selecting an appropriate funding method is essential so buyouts do not drain operating capital or jeopardize business stability. The chosen approach should align with valuation, tax planning and the company’s cash flow. Clear agreement on funding responsibilities and backup plans helps prevent disputes and ensures that transfers proceed smoothly even if the intended source of funds is disrupted.
Comparing Limited vs Comprehensive Succession Planning Approaches
Choosing between a limited and a comprehensive succession approach depends on the size of the business, ownership complexity and the owner’s long-term objectives. A limited plan may address only immediate transfer needs or a single contingency, while a comprehensive plan covers governance, valuation, tax implications, funding and ongoing review. Comprehensive plans tend to be more resilient to unexpected events but require more time and coordination to create. A limited approach can be a starting point for businesses with simple structures, but owners should consider future growth and potential complications when selecting a path.
When a Limited Succession Approach May Be Appropriate:
Smaller Businesses with Simple Ownership
A limited succession approach may suit small companies with a sole owner or a single successor already in place and no complicated ownership arrangements. When owners have straightforward goals, few stakeholders and predictable cash flow needs, setting basic transfer documents and a simple buyout plan can provide adequate protection without extensive restructuring. Even in this scenario, it is important to document valuation and funding expectations to avoid misunderstandings and to allow the business to continue running while the transfer is arranged.
Short-Term Transitional Needs
Limited planning can also be appropriate for temporary or near-term transitions where a full overhaul is unnecessary. For example, if an owner plans to sell the business in the near future or transfer control to a single buyer who has agreed to terms, focused documents addressing that transaction may suffice. The key is ensuring short-term arrangements do not leave behind gaps that could cause disputes or operational instability later. Owners should still consider whether a modest update to governance will help prevent future issues.
Why Many Owners Choose a Comprehensive Succession Plan:
Complex Ownership and Tax Considerations
Comprehensive planning is often necessary when multiple owners, family members or outside investors are involved and when tax consequences could significantly affect the transfer. These plans examine valuation, tax exposure, ownership restrictions and buyout funding to create a coordinated strategy that minimizes unintended financial impacts. A broad approach also integrates personal estate documents with business governance, so transfers proceed smoothly and responsibilities are clearly assigned. This level of planning helps maintain business viability while addressing financial and family dynamics.
Family-Owned Businesses with Multiple Stakeholders
Family-owned companies with several stakeholder groups often benefit from comprehensive plans that address family dynamics, ownership succession, and the rights of non-family managers. Such planning clarifies expectations about roles, compensation and governance, and may include dispute resolution procedures and phased transfers to reduce friction. Detailed funding plans and valuation rules help avoid surprises and protect relationships. By documenting the process and mechanisms for transfer, family businesses can preserve value and ensure the company remains operational and productive during transitions.
Benefits of Taking a Comprehensive Approach to Succession Planning
A comprehensive succession plan provides continuity, reduces uncertainty and helps preserve the financial value of the business across ownership changes. It aligns governance, finance and estate documents, addresses tax and probate implications and creates a clear roadmap for leadership transition. Owners often find that a broad plan reduces the likelihood of litigation or contested transfers by documenting valuation, buyout terms and dispute resolution procedures in advance. This clarity benefits employees, lenders and customers by signaling stability and preparedness for future changes in control.
Comprehensive planning also supports long-term business goals by ensuring that ownership transitions are funded and scheduled to minimize operational disruption. By considering multiple scenarios and building in flexibility, comprehensive plans help owners adapt to changing circumstances without scrambling for solutions. The process of developing a full plan encourages candid discussions among owners and family members about expectations, which can prevent misunderstandings and strained relationships after a transition occurs. Regular reviews keep the plan current as tax law or business conditions evolve.
Continuity and Operational Stability for the Business
One major benefit of a comprehensive plan is operational stability during ownership changes. Clear governance and succession procedures allow management to continue day-to-day operations while ownership transfers are implemented. Funded buyouts or prearranged financing reduce cash flow shocks and provide confidence to vendors and customers. When employees understand the transition plan, retention and morale are more likely to remain steady. Owners who plan ahead can reduce the risk of abrupt leadership vacuums that might otherwise harm productivity or customer relationships.
Reducing Family Conflict and Protecting Value
Comprehensive succession planning helps reduce family conflict by documenting roles, valuation rules and buyout terms before a transfer occurs. Clear legal documents and funding arrangements make expectations transparent and reduce the potential for contested transfers or disputes over ownership. This protection preserves business value and family relationships by establishing fair procedures for compensation and governance. When everyone involved understands the plan and the mechanism for resolving disagreements, the chance of expensive litigation and operational disruption is significantly lower.
Practice Areas
Top Searched Keywords
- business succession planning Westmoreland
- estate planning Tennessee business succession
- buy-sell agreement Westmoreland TN
- business valuation Tennessee
- business continuity planning Tennessee
- family business succession Tennessee
- buyout funding Westmoreland
- probate avoidance business assets Tennessee
- succession planning attorney Westmoreland TN
Practical Tips for Business Succession Planning
Start the succession conversation early
Beginning succession discussions well before a planned exit gives owners time to identify suitable successors, develop management skills, and arrange financing for buyouts without pressure. Early planning allows valuation work to be completed thoughtfully and gives owners an opportunity to align personal estate documents with business transfer agreements. It also lets owners phase transitions gradually if desired, reducing the shock to operations. Taking time up front increases the likelihood that transfers will follow agreed terms and will preserve the business’s reputation and relationships with customers and suppliers.
Document governance, roles and valuation clearly
Plan funding for buyouts and contingencies
Identifying and arranging funding for buyouts and contingency events prevents ownership transfers from draining operating capital or creating liquidity crises. Options include installment payments, company-held funds, external financing and structured arrangements that spread payments over time. Clear funding plans reduce the chance that a buyer will default or that the business will lose working capital during a transition. Preparing backup funding sources and documenting responsibilities ensures that a transfer can be completed smoothly and that the business continues to meet payroll and vendor obligations.
Why Tennessee Business Owners Should Consider Succession Planning
Owners should consider succession planning to protect the long-term viability of the company and to ensure their personal and family goals are honored. Planning reduces exposure to probate delays, clarifies ownership transfer mechanisms and helps avoid disputes among co-owners or heirs. It also provides a framework for managing tax consequences and funding buyouts in a way that preserves business liquidity. For Tennessee businesses, aligning corporate and estate documents can make transitions quicker and less costly when life or business circumstances change unexpectedly.
Even if an owner does not intend to transfer control for many years, early planning creates flexibility and options. Changes in health, market conditions or family circumstances can force sudden decisions; a prepared plan makes those transitions manageable. Succession planning also supports business continuity by setting training and leadership development timelines, which reduce the risk of a leadership gap. Overall, planning serves as a practical safeguard for the business’s stakeholders, customers and employees while helping owners preserve the value of their investment.
Common Circumstances That Make Succession Planning Necessary
Several common situations prompt owners to create or update succession plans, including planned retirement, unexpected illness or incapacity, death of an owner, changes in family relationships, offers to buy the business, or an interest in bringing in outside investors. Each scenario raises different legal and financial questions about valuation, funding and governance. Addressing those questions proactively helps the company avoid operational interruptions, potential litigation and loss of business value when ownership must change hands under stressful circumstances.
Retirement or Reduced Owner Involvement
Retirement planning often triggers succession planning as owners decide who will assume leadership and how ownership will be transferred. Smooth retirements typically involve phased transitions that allow successors to gain experience while the departing owner provides oversight. Setting valuation and payment terms in advance reduces uncertainty and provides financial security for the retiring owner. Planning also enables the business to maintain customer relationships and operational continuity throughout the transition period, protecting long-term value for remaining owners and stakeholders.
Owner Incapacity or Death
Unexpected incapacity or the death of an owner can create urgent legal and financial challenges if no succession plan exists. Documents that designate decision-makers, outline buyout procedures and fund transfers reduce the need for court intervention and help maintain business operations. Preparing contingency plans for immediate leadership and funding prevents disruptions and preserves value. Ensuring governance documents and personal estate plans are coordinated is particularly valuable to expedite transitions and minimize administrative delays under stressful circumstances.
Sale of the Business or Change in Ownership Structure
When owners consider selling the business or bringing in outside investors, succession planning clarifies valuation expectations, ownership dilution effects and governance changes. Preparing clear transfer agreements and funding arrangements streamlines negotiations and helps buyers and sellers evaluate the offer. Planning also helps existing owners decide whether to transition management internally or to remain involved in an advisory capacity after a sale. Thoughtful documentation reduces the risk that new ownership arrangements will disrupt customer relationships, employee retention or long-term profitability.
Business Succession Attorney Serving Westmoreland and Surrounding Areas
We are here to help Tennessee business owners navigate the legal, financial and interpersonal aspects of succession planning. Our approach emphasizes clear communication, coordination of business and personal planning documents, and practical solutions for funding and valuation. Whether you are preparing for retirement, addressing family dynamics or structuring a sale, we assist with drafting agreements, aligning estate plans and creating procedures that preserve business continuity. Our goal is to provide owners with sensible, implementable plans that reduce uncertainty and support long-term stability for the company and its stakeholders.
Why Choose Jay Johnson Law Firm for Your Succession Planning Needs
Jay Johnson Law Firm focuses on estate planning and business transition matters for owners throughout Westmoreland and Tennessee. The firm assists clients by listening to goals, evaluating ownership structures, and preparing coordinated documents that reflect those priorities. We provide clear explanations of legal options, realistic timelines for implementation and practical funding solutions designed to keep businesses operating smoothly during transitions. Our local knowledge of Tennessee probate and business rules helps clients avoid common pitfalls and prepare plans that are workable in practice.
Clients receive guidance on valuation strategies, buy-sell provisions and funding mechanisms that match their financial and operational needs. We work with accountants, financial advisors and lenders when appropriate to design plans that address tax implications and cash flow realities. By coordinating multiple aspects of a transfer, the firm helps reduce the chance of disputes and unexpected costs. Regular plan reviews are recommended so documents remain aligned with evolving business and family circumstances, keeping the plan effective over time.
When preparing a succession plan, owners benefit from clear structure and documented procedures that reduce ambiguity among stakeholders. Jay Johnson Law Firm helps draft the necessary agreements, coordinate estate planning documents, and implement funding arrangements so transfers proceed as intended. We emphasize communication among owners and family members to set expectations and reduce conflict. Practical planning reduces administrative burden, accelerates transition when events occur, and helps owners preserve the business value they have worked to build over many years.
Ready to Protect Your Business and Plan the Future
How the Succession Planning Process Works at Jay Johnson Law Firm
Our process begins with an initial conversation to understand ownership structure, business operations and the owner’s goals. From there we gather documents, assess valuation needs and identify potential successors. We draft governance updates, buy-sell provisions and personal estate documents where needed, and discuss funding options to finance transfers. After implementation, we recommend periodic reviews to ensure the plan remains appropriate as laws, tax rules and business conditions change. Clear documentation and proactive communication are emphasized throughout to support a smooth transition.
Step One: Initial Review and Goal Setting
The first step involves an in-depth review of current corporate and estate documents, ownership records and financial statements. We meet with owners to identify personal goals, family considerations and business priorities, and to evaluate potential successors. This phase establishes the scope of planning, highlights valuation needs and identifies gaps in governance. Understanding these elements early enables targeted drafting and funding plans that match the owner’s timeline and protect the business’s operational stability during the transition process.
Information Gathering and Document Review
Gathering accurate information about ownership percentages, contracts, lease obligations, and outstanding liabilities is essential to effective planning. We review operating agreements, shareholder agreements, buy-sell clauses and estate documents to identify inconsistencies or missing provisions. This review helps determine valuation approaches and funding needs, and it exposes any legal or contractual barriers to a smooth transfer. A thorough inventory at the start reduces surprises later and ensures the plan reflects the business’s actual structure and obligations.
Setting Goals and Priorities for the Transition
During goal-setting we discuss the owner’s intended timeline, desired financial outcomes and how family members or co-owners should be treated. Priorities such as maintaining legacy, maximizing sale value or ensuring employee continuity are clarified so the plan supports those objectives. This step also identifies whether a phased transfer, immediate sale or retirement buyout is preferred, which shapes the design of agreements and funding. Clear priorities make subsequent drafting and implementation more efficient and aligned with the owner’s expectations.
Step Two: Drafting Agreements and Structuring Funding
With goals established and documents reviewed, the drafting phase creates buy-sell agreements, amendments to governance documents, and revisions to estate plans as needed. We also work on structuring funding for buyouts, which may include staggered payments, company loan mechanisms or other arrangements. Drafting focuses on clarity: defining triggers, valuation methods and payment timelines to avoid ambiguity. Once documents are prepared, we coordinate with financial and tax advisors to align the legal structure with funding sources and tax planning objectives.
Preparing Transfer and Governance Documents
Document preparation includes drafting buy-sell agreements, revising operating or shareholder agreements, creating or updating wills and trusts, and specifying management roles after transition. Documents spell out who may acquire interests, valuation formulas, dispute resolution and any restrictions on transfers. Precise drafting reduces the risk of future litigation and ensures the transfer process follows a known path. Documents are tailored to the business’s structure and owner’s goals while remaining flexible enough to handle reasonable changes over time.
Structuring Funding and Tax Considerations
Funding structures are developed to ensure buyouts do not cripple the company’s cash flow. Options include installment sales, company-held reserves, external financing and combinations of payment methods. We discuss tax impacts and coordinate with accountants to minimize adverse consequences where possible. Thoughtful funding arrangements combined with clear payment schedules help ensure that transfers complete successfully without jeopardizing ongoing operations, and they give sellers reliable pathways to receive fair value over time.
Step Three: Implementation, Execution and Ongoing Review
Implementation involves executing the finalized documents, transferring ownership interests, funding buyout arrangements and updating public filings as needed. After the plan is in place, periodic reviews are recommended to address changes in business value, tax law or family circumstances. Ongoing maintenance keeps the plan relevant and reduces the risk that outdated provisions will create problems later. Implementation also includes communicating the transition plan to key stakeholders in a manner that protects operations and preserves trust with employees, customers and vendors.
Carrying Out Agreements and Funding Transfers
Executing buyouts and transfers requires attention to mechanics such as payment processing, title or ownership record updates and any regulatory filings. Ensuring funding is in place before transfer reduces disruption. We coordinate with financial institutions, accountants and other advisors to manage closing tasks and confirm that documents are properly recorded. Proper execution protects all parties involved and closes the loop on planning efforts so the intended result becomes the actual outcome without lingering administrative or legal issues.
Reviewing and Updating the Plan Over Time
Business and family circumstances evolve, so it is important to schedule reviews and updates to the succession plan at regular intervals or after major life events. Reviews ensure valuation methods remain appropriate, funding arrangements still work and governing documents align with current laws. Making modest updates periodically prevents the need for substantial revisions later and keeps the plan ready to function as intended. Regular check-ins also provide owners with opportunities to refine succession timing and address emerging concerns before they become urgent.
Frequently Asked Questions about Business Succession Planning in Westmoreland
What is business succession planning and why does it matter?
Business succession planning is the process of preparing legal documents and practical steps to transfer ownership and management in an orderly manner when an owner retires, becomes incapacitated or dies. It includes choosing successors, defining valuation methods, documenting buy-sell terms, and arranging funding to ensure the transfer can occur without disrupting business operations. This planning matters because it reduces uncertainty, preserves business value and minimizes the chance of family disputes or operational interruptions. For Tennessee owners, aligning business and estate documents helps avoid probate delays and provides a clear roadmap for a dependable ownership transition.
How do I determine the value of my business for succession purposes?
Determining the value of a business typically involves one or more valuation methods, such as income-based, market-based or asset-based approaches. The appropriate method depends on the company’s size, industry and financial history, and the valuation results can be documented in planning agreements to provide a clear mechanism for buyouts. Including an agreed valuation procedure in planning documents reduces conflicts at the time of transfer. Working with financial advisors or appraisers helps ensure the valuation reflects current economic conditions and is understood by owners, potential buyers and stakeholders.
What documents are commonly used in a succession plan?
Common documents in a succession plan include buy-sell agreements, amendments to operating or shareholder agreements, wills, trusts and funding agreements for buyouts. These documents work together to define triggers for transfer, valuation, payment terms and governance after transition. Coordinating business documents with personal estate plans prevents conflicting instructions and speeds transitions. Clear drafting and documented funding arrangements make it more likely that transfers will proceed as intended without prolonged administrative or legal delays.
Can a business succession plan help avoid probate for business assets?
A well-coordinated succession plan can reduce the need for probate court intervention for business-related interests by aligning transfer mechanisms with estate documents. For example, ownership transfers accomplished through contractual buy-sell provisions or properly funded trusts may move outside of the probate process. That said, some business assets may still involve probate depending on how interests are held. Careful planning and coordination with estate documents can minimize probate-related delays and administrative burdens when an owner dies.
How are buyouts typically funded after an owner leaves or dies?
Buyouts are commonly funded through a combination of sources such as installment payments from the buyer, company-held reserves, loans, or insurance-supported arrangements. The chosen funding structure should match cash flow realities and the valuation agreed upon by parties to avoid harming ongoing operations. Documenting funding responsibilities and backup plans in the buy-sell agreement reduces the risk of default and ensures that sellers receive payment while the business maintains working capital. Planning funding in advance makes transfers more predictable and reliable.
What role do family relationships play in succession planning?
Family relationships play a significant role in many succession plans, especially for closely held or family-run businesses. Emotions, differing expectations and unequal ownership shares can complicate transfers, so addressing family dynamics openly during planning helps set realistic expectations and reduce conflict. Including clear governance rules, conflict resolution procedures and written buyout terms helps protect both the business and family relationships. These measures provide structure to difficult conversations and create a framework for fair treatment of family members and non-family stakeholders alike.
How often should a succession plan be reviewed or updated?
A succession plan should be reviewed periodically and updated after major life events, ownership changes or significant shifts in the business. Regular reviews ensure valuation methods, funding mechanisms and governance provisions remain appropriate as circumstances evolve. Scheduling reviews every few years or whenever significant changes occur helps keep the plan effective and reduces the chance that outdated provisions will create problems when a transfer becomes necessary. Proactive updates preserve the plan’s functionality over time.
Will succession planning reduce estate taxes in Tennessee?
Succession planning can influence estate tax outcomes by aligning ownership transfers with estate planning strategies, though the impact depends on individual circumstances and current tax laws. Proper structuring of transfers and coordination with tax advisors can help manage tax exposure for owners and heirs. Because tax rules change and the effect varies by case, owners should consult with a tax professional in conjunction with legal planning to identify options that may reduce estate tax liabilities while achieving succession goals.
Can I transfer ownership to employees through a succession plan?
Transferring ownership to employees is a possible succession option through mechanisms such as employee stock ownership plans, employee buyouts, or gradual equity transfers. Such arrangements can incentivize key employees and support continuity, but they require careful structuring of valuation, payment terms and governance. Employee transfers also require planning for funding and possible tax consequences. Clear agreements and communication help ensure that employee ownership supports operational goals and that the company can finance the transfer without undermining stability.
How do we begin the succession planning process with your firm?
To begin the succession planning process with our firm, schedule an initial consultation to discuss your ownership structure, goals and timeline. We will review current documents, identify gaps and outline the scope of planning work needed to achieve your objectives. After the initial review we develop a tailored plan that includes drafting necessary documents and coordinating with financial and tax advisors as appropriate. Our process focuses on practical steps that protect the business and provide a clear path for transition when the time comes.