Succession Planning
Nothing lasts forever. Whether it is retirement, a change of direction, illness, injury or something else, passing the baton on is an inevitable part of carrying on a business.
To facilitate an effective exit-strategy as well as the long-term success of your business, it is critical to establish a well-designed succession plan. An all-too-common scenario in business is the case of an enterprise being started or acquired with little thought given to exit-strategies for the principals. At KJB Accountants & Business Advisors we can ensure you have everything in place from day one which will facilitate the smooth transition and continuation of what you have worked so hard to create to new operators, whether within the family, existing business partners or employees or a sale to a third party.
We have a wealth of experience with and access to a variety of succession planning tools such as buy/sell agreements, unit trusts, hybrid trusts, bloodline trusts, buy-out & key-man insurance, etc. and can assist with negotiating the minefield of associated tax consequences that come with business succession to ensure the best outcome.
Coordinating the transition of your business to your successors can be an arduous process. However, with our years of experience we can address the complex issues of business continuation, removing the stress from your shoulders.
Contact us for more information on forming a plan that facilitates a hassle-free continuation of your business!