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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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