Succession Planning

Good! You have decided to plan ahead. Now, what are your options and how do you begin to plan for the outcome you want? Consider...

Where are you now?

What is your goal?

And therefore, what is your plan?

Buy Out - use a buy/sell agreement to contract to buy out other owners
under certain conditions
Sell Out - to family members or employees or other buyer?
Close Up - wind up affairs with clients & vendors, liquidate assets,
dissolve company, file final tax return
Estate Planning - decide how the company's ownership will be
transferred and who will manage, operate and/or sell the business upon your death

Remember, planning ahead is your best bet to get the outcome you want.