What is Succession Planning?
It has been defined as:
The planning process that the business owner goes through to identify the best options available in transferring assets, wealth and authority onto a potential successor or successors.
The key point in this definition is “Process”.
Succession planning is a process and not an event. The smooth succession of a business resembles a flow of events that occurs over time.
Correctly handled, Succession Planning gives you the opportunity to maximise your financial reward.
It is a road map helping you travel from point A to point B.
Too many people leave it too late and this influences the process. A shortened process often eliminates options.
Without a process it can result in chaos, friction and bad feelings amongst family members.
Succession Planning gives you an opportunity to identify the best options and the time to implement them.
We have extensive experience with a wide variety of clients and are happy to assist with the process of Succession Planning.
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03 379 5566
Call us today on (03) 379 5566 and talk with one of our experts