Succession planning for family businesses
For most family businesses as well as private groups, succession planning (sometimes known as transition planning) involves considerations around the eventual sale of your business, or the passing of control of it to other family members when you retire. Depending on your circumstances, this may include realising assets and making other changes to ownership, but is certainly tied up with retirement planning and estate planning. It’s important to consider a number of issues, including possible tax consequences, in your plan. For more information, follow the link below, or give our team a call to see how they can help you with your transition plans.