Succession Planning

Both Fortune 500 companies and local, family-owned enterprises share the same challenge of planning for the orderly succession of a business and its management team. Despite the plan’s structure, there are several key components to succession planning: What is the company’s value? In family business, what emotions and dynamics are involved? How strong is the management team? What are the tax ramifications of the transaction?

Succession planning requires a team of professionals, including CPAs, valuation specialists, financial advisers and attorneys. You should begin the day your business opens its doors, and you should always include it in any strategic planning initiative.

The Law Offices of James A. List, LLC offers advice on the following sucession planning topics: