Legacy Protection

Family successions have different considerations. Many succession strategies are designed to begin transforming family wealth rather than maximize the sale price.

A family succession is still a financial transaction. Gifting is often involved in order to transition some of the family wealth to the next generation. If you are thinking about exiting in the next five to ten years or less, we suggest starting a conversation today because it takes time to execute a gifting process. Our transition blueprint outlines the process to begin your family succession.

Other Considerations in a Family Succession:

  • Selecting the right family leader
  • Determining his/her support team
  • Potentially bringing in an outside leader
  • Establishing the proper compensation for family leaders

  • Equitable distribution to family members not in the business
  • Creating a buyout process for exiting family
  • Developing a transition & training process for the new leadership

If Conducting a Family Succession is Your Preferred Option, We Need to Set Two Plans:

Plan A. Develop a strategy to conduct the succession.
Plan B. Create a backup strategy to sell to an outside group if the internal succession fails.

Our Process Includes Recurring Progress Meetings.

The frequency is determined based on the exit timeline. An accelerated transition may require a monthly meeting, while extended transitions may be on a quarterly schedule. Call us to learn more.