Business Succession

There are many decisions involved when developing a succession plan for your business.

Should you sell your business or use a gifting strategy to transfer ownership?
Should you structure your plan to go into effect during your lifetime or at your death?
Should you transfer ownership to family members, co-owners, employees, or an outside party?
Should you use a buy/sell agreement funded with life insurance?
How should you value your company prior to sale/transfer?

The key is to pick the best plan for your circumstances and objectives, and to seek help from financial and legal advisors to carry out this plan.