The future of your business is of utmost importance, if you plan to see your business succeed long after you’re the boss. Preserving the business through an orderly succession to family members or other insiders is the ultimate management challenge. As the owner, you must deal with business, family, tax, and estate issues when preparing for the succession of both management and ownership.
A typical succession plan has two elements, which should be considered separately:
- The transfer of power; control over the business’s operation is transferred to those best suited to exercising it.
- The transfer of assets; the wealth concentrated in the business is transferred to designated family members, who may be a different or larger group than the person or persons who will be assuming power.
We’re here to help you with the latter. Contact us today!
NOT A DEPOSIT•NOT FDIC INSURED•NO BANK GUARANTEE•MAY LOSE VALUE.
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Securities and other investment products are offered through Financial Network Investment Corporation, member SIPC.
Financial Network is not an affiliate of West Milton State Bank.