Business Succession Planning
For many owners, their business represents their biggest asset. But it’s often the most neglected. Have you given serious thought to what happens to your business if you become disabled or pass away? Or if your top salesperson retires? What if your company’s assets are acquired?
Much like estate planning, developing a business succession plan can be a very emotional experience as it involves making difficult decisions that not only impact you, but your family, employees and colleagues. But not doing so can put your businesses’ future—and your hard work—at risk.
At Wood & Associates, we assist you in formalizing a plan that details what happens to your business when a succession event occurs. And because this involves estate-planning issues, tax concerns and money-management strategies, we partner with accountants, actuaries and insurance professionals to both value and protect your business and prepare the legal documentation (e.g., Buy/Sell agreements) that ensures an orderly transition.
When it comes to your business, protection and planning matters. Contact us today to learn more.