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.

People

News

8 Ways to Prep your Farm Business for 2019

Share this

Tackle these worthwhile tasks now for a more productive year ahead The end of the year is a smart time to prepare your ag business for the coming year. Crops have been harvested and stored. You’re wrapping up this year’s […]

Focus Your Family Business on Its Legacy this Holiday Season

Share this

By Jeanne Bernick, K·Coe Isom Market Strategist and Certified Family Business Advisor For many of you the stress of harvest season is over and now you enter a new season in family business: the holidays! As if working with family […]

How to Help California Fire Victims

Share this

Camp Fire, now the most destructive wildfire in the history of California, has desecrated an insurmountable number of people’s lives, families, friends, homes, and livelihoods.  In addition, two more wildfires in Southern California are displacing residents and businesses. As K·Coe […]