If you are looking for an easy to understand and easy to read book that contains step-by-step processes for succession planning this book is for you. Planning today for business growth and continuity tomorrow is the theme for the Third Edition of this book. We begin our focus on how succession planning will increase the value of your company and, if neglected, will lead to serious conflict and potential business demise.
From there we begin with the end in mind as we explore the letting go process for members of the senior generation, estate planning then putting both a family and a business plan together. These plans include management and leadership succession, the seven areas of business and family that impact each other.
We continue with the latest development in the law with estate planning and asset transfer methods that will save/eliminate taxes, and give a brief understanding of trusts and how to be “fair” with family members. Chapter 7 examines business valuation and 10 specific business transfer techniques and tax savings methods. Lastly, we put all this information together in a “real case” story of a past client so that you can understand how the process works in a live situation.
This book features 13 tables, 7 exhibits and 3 extensive worksheets to give you clear-cut direction in your situation.