Succession Planning

You’ve realized that it is time to make an exit or you understand that that day will certainly come. How do you address all the concerns surrounding this seemingly monumental task?

Since your business and personal needs are intertwined, we can help you integrate your Succession Plan into an overall strategy.

You will need to have access to professionals with expertise in:

  • Succession and Tax Planning
  • Financial Planning
  • Insurance based solutions
  • Investment Management
  • Estate and Philanthropic Services

You can start by calling us. We can help.

Succession Concerns

When you decide to start work on a Succession Plan all kinds of concerns can arise. Who will take proper care of what you have built? A family member? A competitor? And do you have any other options?

Knowing the value of your business is crucial

Before you can really get started with your succession plan you need to know what your business is worth.

Therefore, before you sell or exit your business, you will need to evaluate your business revenues, assets, property, etc. Furthermore, you will need to assess: future potential profit, competitors, intellectual property, customer base as well as a host of other factors.

What are some of your options to consider?

Whatever option(s) you choose or favour, look for an exit strategy that fits both your personal and business objectives.

Transfer to a Family Member

Choose your candidate(s) and discuss the plan. Then make arrangements for the transfer or sale of your business to a relative. Additionally, there is a possibility to combine this option with Recapitalization (see below).


Recapitalization might allow you to begin to transfer the business value while retaining control of the company.

This options creates two classes of stock: voting preferred and non-voting common stock. Non-voting stock is transferred through sale or gift to the successor(s) . Owners retain voting preferred stock until they are ready to transfer control.

Sell to the Employees (ESOP)

Do your employees know the business and want it to continue? Then consider selling your business to them.

Sell to a Competitor or other Private Third Party

Consider finding a buyer and begin a discussion leading to a sale.

Sell to a Partner or Group of Partners as a Management Buyout

The management team pool resources to purchase all, or part, of the business that they currently manage.

Public Offering

Corporate shares are offered to the general public and traded on the stock market. This is usually a very expensive option that requires sufficient revenue base and a strong business plan. Additionally, if you are near retirement, it is not an optimal exit strategy.


You may choose to liquidate the assets that the business holds, and close the business. This option generally means there is no market for the business as an ongoing entity and other options are not available.

Contact Us today to review your current succession plan or develop a new one. Let us provide streamlined, cost effective solutions that meet your business needs.