Succession Planning
- Introduction to Succession Planning
- Succession Planning Challenges
- What Should a Succession Plan Include?
- Succession Planning Questions to Ask
- How is Succession Planning Related to Estate Planning?
- Systematic Gifting
- Passing on a Successful Business
- Will Your Successors be Ready?
- Selling the Business to a Family Member
- What is a Buy-Sell Agreement?
- Components of a Buy-Sell Agreement
- Setting a Price for a Buy-Sell Agreement
- Funding a Buy-Sell Agreement
- Cross-Purchase Agreements
- Stock Redemption Plans
- Other Types of Buy-Sell Structures
- Choosing the Right Funding Method
- GRAT or GRUT?
- Family Limited Partnerships
- Replacement Planning
- Other Considerations When Exiting a Business
Succession Planning Questions to Ask
- What are my goals for my business after I retire or die?
- Does my company have the right people in place to continue running it if something should happen to me?
- Which key employees are most critical to the business? What can I do to retain them and prepare them to take on more responsibility?
- Are there family members who are interested in and capable of taking over the business?
- What is the value of my business, and how can I preserve that for future generations?
- How can I communicate my succession planning goals to my family, partners, and key personnel?
Share Article:
Investment and insurance products and services are offered through Osaic Institutions. Member FINRA/SIPC. Marblehead Financial Services is a trade name of the Marblehead Bank. Osaic and the Marblehead Bank are not affiliated. Products and services made available through Osaic are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.
Tools & Resources
