Business Succession
Passing on a professional practice
Regulated practices face restrictions on who can own them, which narrows the succession options considerably.
Business Succession
Buy-sell agreements, valuation and keeping a firm alive.
Business Succession
The family meeting about the business
Consistently identified as the highest-value step in family business succession, and the one most often avoided.
Business Succession
Selling to employees
Employee ownership preserves continuity and carries tax advantages, alongside genuine complexity and cost.
Business Succession
Life insurance in business succession
The mechanism that funds most buy-sell agreements and equalises most family transfers, with technical points that matter.
Business Succession
Preparing a business for sale or transfer
The work that determines the price happens years before any conversation with a buyer.
Business Succession
Business owners without an obvious successor
A common position, and the choices narrow considerably the longer it goes unaddressed.
Business Succession
Governance in a family business
Structures that separate family relationships from business decisions, and why their absence causes most of the trouble.
Business Succession
What happens to a sole proprietorship on death
Unlike a company, an unincorporated business does not survive its owner, and the practical consequences are immediate.
Business Succession
Selling the business instead of passing it on
Frequently the right answer, and the preparation determines whether it happens at a reasonable price.
Business Succession
Family businesses and the children who do not work there
The fairness problem at the centre of most family business succession, and the ways it is actually solved.
Business Succession
Buy-sell agreements and what they prevent
The single most important document for a business with more than one owner, and the one most often absent.
Business Succession
Passing on a business
Most owners intend to hand the business on and most have no written plan for doing it.