Business Succession Planning

When considering business succession planning, here are some questions to seriously consider:

  • Would your business survive if you’re no longer here?
  • What would happen to your business if you were incapacitated or unable to communicate?
  • In an emergency situation, would your family or staff know how to operate the business, access critical business accounts, process orders, pay bills, and pay your employees?
  • If you decided to retire next year, could the business survive without you and your expertise?

Succession planning is a process and failing to plan to transfer your business to a family member could result in extensive financial losses and hefty estate taxes for your heirs. At BST, we can help you establish a succession strategy that will preserve your family’s wealth, as well as the future of your business.

Our business succession planning services are geared to closely-held business owners and family-owned businesses. We can help you prepare for the future, including:

  • Refinancing
  • Expansion plans
  • Fringe benefit planning
  • Designing qualified plans
  • Profit-sharing plan administration
  • Executive compensation planning
  • Incentive compensation planning