Dougherty Wealth Advisers LLC Innovative Financial Solutions Nationwide
"Succession planning isn’t something you can do once and forget. To be a conscientious business leader, you have to continually revisit
your plan."

Business Succession

Overview

Your business succession plan may be both your retirement plan and a significant part of your estate plan. After understanding your personal objectives and the business’s value and needs, we work with you to design and implement an appropriate strategy to transfer the business to family members, key employees or a third party. We work with your other advisers or make recommendations as needed to assist you in implementing the plan.

Business owners sometimes put succession planning on their back burner, but never get around to focusing on it until it is inevitable. Failing to plan early and adequately for business succession can have serious implications – for both the business entity and the owner. Family dynamics and the complexity of businesses make early development of a business succession plan paramount to the later success of the business.

Succession planning isn’t something you can do once and forget. To be a conscientious business leader, you have to continually revisit your plan, reviewing and updating it to reflect changes in company value, market conditions and your own health as well as the abilities and passion of your successors.