Family Business Succession Planning
Managing the transition of ownership and management in family
business succession planning is a major challenge for most
family businesses. We at Key Resources help families with
an integrated approach
that includes the family, business, and ownership.
Succession Planning Process
The process of family business succession planning can begin
early before the transfer is necessary. We call this the informal
succession planning process that includes all of the tasks
of raising children to become responsible and independent
adults who may or may not want to take over the business.
The formal process of succession planning takes place over
a relatively short period of time when the documents are being
signed and advisors play an active role. Or it can be precipitated
by a sudden change, for example the death of the founder,
presenting challenges for which the family and business is
not yet prepared.
Planning for Success
Wherever you and you company are in the family business succession
planning process, Key Resources will help you develop many
options for success. We will coordinate our efforts in the
family, business, and ownership systems, working with you
and your advisors.
Contact us to learn more
about how we can help you make informed strategic decisions
for succession planning in your family business.
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