Succession Planning

Succession planning, done well, is a series of events that occur over time, not a sudden powerful event. To achieve this, significant thought and planning should take place well before a business owner anticipates actually leaving the business. Succession planning involves taking the time determine who is best suited to run the business for the next phase, time to teach others the intricacies of the operation, and the time and effort to instill in successors the values and mission of the company. In addition, there are several important elements in the financial strategy of a succession plan. Smith & Howard has significant experience in each of these areas:

• Business valuation
• Method of transfer (different implications for sole proprietorships, LLCs or corporations)
• Gifting options
• Trusts
• Buy/Sell Agreements
• Life Insurance

At Smith & Howard, we bring our expertise and personal service to bear for our clients, helping them successfully navigate the succession planning maze, and enjoy the rewards of their years of hard work.