Whether retirement is 30 years away, just over the horizon or not in your game plan at all, a succession plan is vital to ensuring the continued success of your business.
A good succession plan can help:
• Transfer ownership when the time comes
• Maintain your lifestyle in retirement
• Provide for your heirs financially
• Prepare the business to handle unexpected events
Why is a succession plan so important?
Life happens—and unless you have a plan to deal with the unexpected, the business you worked so hard to build could crumble if you become disabled, die, get divorced or decide to split with your business partner.
Think of a succession plan as peace of mind for the business
you’ve worked so hard to build.