Succession Planning for Small Business Owners

Preparing for Retirement, Protecting Your Future, & Preserving Your Wealth

Many small business owners cannot imagine a time when they won’t be running their business – but it’s inevitable and you can prepare now.

Succession Planning

It is a strategy for identifying and training future leaders of the company, as well as outlining the sale of your business, or your portion of it. Just like your Will or other estate planning documents, your succession plan isn’t something you create and forget about until it’s needed. It may evolve as you approach retirement or as you identify potential successors or buyers.

It can be challenging and emotional to think about a time when you aren’t involved with your business. But taking action today helps protect the business you’ve worked so hard to build. It also helps to protect your family’s wealth as you secure a new owner and helps direct its legacy.

In this guide, we discuss:

Where to start in succession planning

Considerations for family-owned businesses

Business valuation methods

Protecting your business with a buy-sell agreement

The role of insurance in your succession plan

Tax minimalization strategies to preserve wealth

Download Our Guide

    Download our 2024 Financial Planning Guide