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Business Succession Planning

Photo of a creative business team busy at a meeting

Just as every family needs to have a comprehensive estate plan in place, so too should every business make plans for the  orderly succession of the business entity from one owner to the next.
Whether a business interest is being sold to new owners, reapportioned among current owners, or transferred to the next generation of family members, it is vitally important that all parties use a framework that facilitates a smooth, principled financially sound and amicable transition, including:
  • Buy-sell agreements
  • Business valuation methodology
  • Purchase agreements
  • Asset lien clearance
  • Documents of sale.