Succession Planning

Advisory boards provide family businesses with independent perspectives

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January 30, 2026
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Does your family business keep its strategic decisions within the family? It’s common for family businesses to assign relatives to positions of authority and require other employees to defer to them. But “common” doesn’t necessarily mean “good.” Not only is outside input recommended, but it can help reduce the risk of certain problems (such as […]
#BusinessGovernance, #FamilyBusiness, #SuccessionPlanning
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Succession Planning

How businesses can fund a buy-sell agreement

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August 22, 2025
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Businesses with more than one owner benefit from having multiple viewpoints and varying skill sets. However, they also face serious risks of uncertainty and conflict if one of the owners suddenly departs or undergoes a major life change. A carefully crafted buy-sell agreement can guard against these risks — if it’s securely funded. Transfer guidelines […]
#BusinessContinuity, #BuySellAgreement, #SuccessionPlanning
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Estate Planning

Family business focus: Addressing estate and succession planning

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May 30, 2025
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The future often weighs heavier on the shoulders of family business owners. Their companies aren’t just “going concerns” with operating assets, human resources and financial statements. The business usually holds a strong sentimental value and represents years of hard work involving many family members. If this is the case for your company, an important issue […]
#BusinessSuccession, #EstatePlanning, #FamilyBusiness, #SuccessionPlanning
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Succession Planning

Planning for the future: 5 business succession options and their tax implications

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March 17, 2025
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When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders or owners. Whether you’re ready to retire, you wish to step back your involvement or you want a solid contingency plan should you unexpectedly be unable to run the business, exploring different […]
#BusinessTransition, #ExitStrategy, #SuccessionPlanning
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