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  • Writer's pictureMichael Langford

Transition Planning

Updated: Jun 1, 2023

The next 10 years will mark the largest transfer of wealth through business ownership changing hands the world has ever seen.

Since business ownership hand-offs to the next generation are decreasing, we conclude that businesses with a strategic plan in place will retain the greatest value for their ownership. Keys to a transition or succession planning for the middle market company may include the following:

Family Member Succession

  • Agreement and understanding of goals

  • Family information

  • Gift and estate planning

  • Insurance analysis

  • Investment options and advice

Shareholder Succession

  • Shareholder agreement

  • Disability planning

  • Compensation plans

  • Available transfer techniques

Sale to Outside Buyer

  • Assessment of business strategy

  • Executive and management review

  • Corporate structure

  • Business valuation and market conditions

  • Retirement plans

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