Whether you are a business owner, partner, or shareholder, a time will come when you must transition out of your business.
Business succession planning ensures that when that day comes — whether through retirement, incapacity, or unforeseen circumstances — your business will continue to thrive according to your wishes.
At Fletcher Barrow, we help entrepreneurs and business owners develop clear, legally sound succession plans that safeguard their companies, employees, families, and legacies.
Business succession planning is the process of creating a legal and strategic roadmap for transferring ownership and management of a business.
Good succession planning answers key questions:
Without a plan, the transition can lead to confusion, disputes, financial losses, or even the collapse of the business you worked so hard to build.
Ensure smooth operations during leadership transitions.
Proper planning can preserve and even enhance the value of your business.
Clear plans minimize misunderstandings among family members and stakeholders.
Accidents, illness, or sudden departures can happen at any time.
Careful planning can reduce capital gains taxes, estate taxes, and administrative costs.
Now. The earlier you start, the more options you have — and the less disruptive the transition will be.
Yes. Verbal agreements are risky. A legally binding written plan ensures everyone is clear and protected.
Without a plan, your business could suffer financial losses, leadership vacuum, legal disputes among heirs or partners, or even forced sale or closure.
Business owners, partners, key employees, family members (if applicable), and professional advisors (lawyer, accountant, financial planner).
Absolutely. Good plans are flexible and should be reviewed and updated regularly as your business and personal circumstances change.
At Fletcher Barrow, we’ll work closely with you to craft a customized succession plan that protects your business, preserves your wealth, and ensures your legacy lives on.