Business Succession Planning: plan before you move.
Once you decide to remove yourself from your company’s day to day operations, effective transition of the business to your successors is critical. This will ensure the business’s continued success. With a solid background in tax and other financial matters, Wegmann Dazet is fully qualified to address the complex issues of business continuation. We can assist you in developing a strategically sound plan.
Consider these questions:
- If you die unexpectedly, can your family continue to run your business?
- If your family cannot run your business, who can?
- If you die unexpectedly, will your family have sufficient liquid resources to hire someone to replace you?
- If you die unexpectedly and have partners, will they pay your family a fair price for your business?
- Do you have a buy/sell agreement?
- Do you have a management succession plan in place?
- Have you considered the impact of estate taxes on your family business?
There are many factors involved with business succession planning. It is always a good time to consult with a Wegmann Dazet professional.
Contact us to assist you in this important planning area.