What is business succession planning and why is this an important and essential component of forming any new entity? Business succession planning protects all you’re working to build by ensuring sound management decision making continues if you are disabled and after your passing while assets are passed to the next generation. How well is your business positioned to survive an unexpected illness, incapacitation, the loss of its owner, the introduction of new (and potentially inexperienced) equity owners and associated voting rights, and the valuation of interests to be passed to heirs and beneficiaries?
Business succession planning protects all you’re working to build, all the money you have and will invest in the venture and the hours, days, weeks, months and years of your life you give to make it a success. Janathan Allen works with each client to tailor a business succession plan to their unique situation. A strong plan should be developed at the outset of an entity’s formation to clearly and extensively describe the circumstances surrounding how and when a successor would step in to temporarily or permanently run the company. The plan should standardize your company’s operating procedures, the process of valuation and how a succession would be funded, such as life insurance or some form of security.
Business succession planning provides peace of mind, and protects the fruit of your life’s labors. The experienced business, tax and corporate formation attorneys at Janathan L. Allen, APC and supporting tax and accounting experts at Allen Barron are uniquely positioned to advise you in these matters, and work with you to develop a strategy to protect all that you’ve worked so hard to build.
Our effective business succession planning protects all you’re working to build while ensuring that operations continue in the smoothest manner possible in the event of a major life challenge, divorce, incapacitation or passing. We invite you to contact us or call today to schedule a free and substantial consultation at 866-631-3470. Learn about the issues associated with business succession planning, and the ease with which you can protect your company and preserve its valuation and operational success if you are disabled, or at the time of your passing.
