Business Succession Planning

what to do?

All business owners will eventually be faced with the decision to acquire, merge or divest their company. 


As such, one of the major concerns facing owners of family or closely held businesses is: how do I plan and organize an effective, orderly and affordable transfer of the business to the next generation of family, partners, key employees and/or an outside party?


Business owners immediately encounter issues of management, ownership transition and taxation. Questions such as the following need to be answered before implementing any plan: should the business be sold outright? Is a management buy-sell agreement appropriate? Should a self-canceling installment note be utilized? Are gifting and/or using trust vehicles relevant? 


The key to a successful transfer is picking the best plan for one’s circumstances and objectives, and to seek advice from financial and legal advisors to carry out the plan. Finestone Partners has led the structuring of many successful business successions plans. We work to ensure a smooth, seamless transfer of ownership, whether it is to the next generation or to an outside party. By transferring the company effectively, business owners will be able to retire with consistent source of income, minimizing gift and estate taxes, and ensuring business continuity.