1. the coming of one person or thing after another in order, sequence, or in the course of events:
2. the right, act, or process, by which one person succeeds to the office, rank, estate, or the like, of another.
Whether you're heading straight into retirement or have years to prepare for the transition, it's critical to have a succession plan in place well in advance to protect the value of your business.
Succession planning should focus on unexpected events and contingency planning, as much as it does on the long-term goal of retirement. It will help you ensure the protection of your client relationships, family and staff. Whether you're heading straight into retirement or have years to prepare for the transition, it's critical to have a succe ...more
We help ensure that regardless of outside circumstances, a smooth transition of your business can occur, and that the full value for your practice can be attained. Our support includes:
- Guidance in carefully mapping out your exit strategy, and educating you on the types of agreements and contracts you need to have in place. These could include continuity plans, buy/sell contracts, partnership agreements and operating agreements.
- Providing you with sample agreements and checklists to prepare you for the transition.
- Education and guidance on how to engage with your CPA, legal team, senior advisors and business partners.