Business Succession Planning
Business Succession planning can be stressful because of the many emotional and legal considerations involved.
A properly structured Business Succession Plan will ensure that when a principal exits a business, a smooth transfer of equity that maximises the value of the business will occur. It can also ensure you and your business are protected financially in the event of an unexpected change in circumstances.
A Business Succession plan is a document that is typically activated due to some type of “trigger event”. Trigger Events are events that can impact you, your family and your business partners and include;
- Total and Permanent Disablement
- Serious illness
Creating and maintaining a tailored Business Succession Plan is critical to ensure successful business succession and to avoid financial setbacks.
At GTO Wealth Management, we understand what is required to ensure a smooth transition for all involved.