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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