Business Succession

There are many decisions involved when developing a succession plan for your business.

  • Should you sell your business or use a gifting strategy to transfer ownership?
  • Should you structure your plan to go into effect during your lifetime or at your death?
  • Should you transfer ownership to family members, co-owners, employees, or an outside party?
  • Should you use a buy/sell agreement funded with life insurance?
  • How should you value your company prior to sale/transfer?

The key is to pick the best plan for your circumstances and objectives, and to seek help from financial and legal advisors to carry out this plan.

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