Business Succession Planning: Estate Planning Vehicles, Common Issues, Best Practices

There are few events in the life of a business that are as critical as replacing an owner. Without a firm succession plan in place, there is a high risk that the company will fail. Replacing an owner is not only stressful on the successor owner, but also the employees, customers, suppliers, and other stakeholders in the business.

As advisers, there are several essential aspects involved in succession planning for a private business. We will be discussing estate planning vehicles, corporate matters, financial issues, and other items. This discussion will help you market to existing clients and prospective clients early on in the process, which will help yield better results for everyone. The panel in this webinar believes strongly in a cross-disciplinary approach in working with clients and developing a plan early on in the process.

Listen as our distinguished panel discusses the importance of a formal business succession plan, what terms to include in such a plan, and an estate planner's role in drafting it. The panel will also discuss best practices for estate planning counsel in maintaining the succession plan for executive-level employees, as well as other employees whose unexpected departure would disrupt the business.