The Business Owner Succession Strategies (BOSS) Group provides training specifically designed to help business owners recognize the challenges of succession planning and implement appropriate solutions. Our team has experience and expertise in developing business succession strategies for business owners around the country. Waterfront Financial Group is an innovative financial services company that has worked with dealers and franchisees.
Many owners of family businesses are so busy running their companies that they never get around to making formal arrangements to pass on the business to the next generation or to other partners.
A business will is far more than a legal document designed to transfer assets upon the death of an owner or partner. It is a comprehensive estate planning tool that can include everything from management plans, and other documents necessary for a company’s continued operation and future health, to shareholder buy-sell agreements.
When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to family members, co-owners, employees, or an outside party?
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