Business continuity planning is an essential part of business financial planning. Unless it is acceptable for a business to dissolve when one or more co-owners cease to be associated with a business, some type of plan of succession is necessary. We are prepared to advise the owner or co-owners about their succession possibilities in a financial sense. Among the issues that we can help you resolve are:
- How to structure a sale of a controlling interest in the business to other executives, family members or other employees.
- Who should the successor(s) be?
- Will the business be “shopped” after the passing of the current owner(s)?
- How will the successor(s) finance their purchase of the business?
- Is it desirable to begin transferring business interests to the successor(s) prior to the final transfer of the controlling interest?
All of these questions and more must be answered during the planning process. We are prepared to help you resolve your succession-related issues in a way that ensures the continuity of your business.