What is Business Succession Planning?

Simply put, Business succession planning is proactive planning for the inevitable transition of your business at the time of retirement, death, or disability; protecting your lifelong investment for your beneficiaries as well as protecting your employees from uncertainty.

At Personalized Financial Solutions Group, we realize business succession planning done well involves a team of solutions experts, accountants and lawyers to implement for the maximum benefit. We have the team on standy-by to execute your planning needs in the most tax-efficient and cost-effective manner, with ongoing personalized support to review and update as your needs and circumstances evolve. This process involves follows our planning process to identify your goals and objectives, recognize potential problems, and work alongside our innovative solutions experts to implement

Common Business Succession Questions

What are the tax consequences of my succession plan?

What if my partner gets a divorce and settlement calls for the spouse to receive a portion of our joint business assets?

How can I most effectively transition my business?

I need retirement income from my business.

How will I divide company shares and leadership responsibilities between my children?

I want to retain control over my business for some period after retirement.

What happens to the business if one partner is incapacitated?

What is a buy-sell agreement between business partners?