Physics of Business Succession
What is the value of continuing the business?
Buying the Business as the Next Generation
Are you the next generation considering buying the family business?
One Business, Multiple Children
Trim the Tree - Who Is Involved?
Trim the Tree - Communication & Self Determination
When determining who will continue on with the family business, communication is key.
-It is important to start communicating early.
-Self determination is paramount in the upcoming generation's happiness.
Trim the Tree - Alternatives for those who are not involved ...trusts, alternative inheritance
Who, not what ...Knowing the questions to ask regarding next generation involvement
Impact of Health on Transition Options
The big "What if" : Health
-Having a plan in place before an event takes place.
-Health events may result in a loss which can drastically change time tables for succession.
-Planning is important!
-Take care of yourself - we are all mortal.
Timing to Transition
Timing DOES matter!
When is the right time to transition your family business, and how will you know when that time comes?
