Succession Planning

Your energy is devoted to the day-to-day realities of running your business as it should be. But proactively planning for the long-term future of your business gives it staying power. In fact, it can increase the value of your business and preserve assets, regardless of the business’ total value. Protecting your business and your family requires a succession plan.

Download Our Succession Planning White Paper

Case Study: The father of a family farm spanning three states began thinking about retirement and wondered how to pass the operation on to his sons without getting clobbered with estate taxes. Our succession plan allowed him to retire while his sons purchased the business over the next 15 years. This gave him a set income and transitioned the business in a tax-efficient way, allowing him to slow down and enjoy his retirement.

Case Study: A couple who owned a farm was struggling with transitioning the business to their son and daughter due to different management styles. We facilitated succession planning meetings to establish goals, determine action items, and set timeframes. The result was a clear succession plan that outlined roles and responsibilities, eliminated miscommunication, and kept the business in the family.

Case Study: A service business with two groups of owners—one group nearing retirement and another coming in to ownership—sought our services to manage the transition. We collaborated with internal and external resources to determine strategies that benefited both groups. The result was an integrated solution that met everyone’s desires and allowed for a seamless transition of operations.

Contact Doug Mitchell at 970.685.3500 and take the next step in planning for the future of your business.



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