Succession Planning

Does your business have a succession plan? If so, is it current? Do the successors know and accept its terms?

Jay E. Reiner, CPA, can work with your legal and other advisors to design a succession plan that provides peace of mind and financial stability.

Every family-owned business needs an up-to-date succession plan acceptable to the family members and employees involved. Without it, the future of your business is at risk.

Succession planning protects your company, family, and employees against a monetary burden that may doom the business in the future. You need to determine how to transfer ownership and management after your retirement or death. Each type of company structure--sole proprietorship, partnership, or closely held corporation--affects your choices. A plan also allows you to test potential successors in different roles to make informed decisions.

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