Category: Succession

Latest Posts From Category: Succession

Business Valuation

A GOOD IDEA: BUY-SELL AGREEMENTS

Life comes at you fast. Marriages end, illnesses and injuries occur, people decide to change careers or retire — sometimes without much advance notice! Any of these events could pose a major problem to any construction company with multiple owners.

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Internal Control

Could An FLP Fit Into Your Succession Plan?

Among the biggest long-term concerns of many business owners is succession planning — how to smoothly and safely transfer ownership and control of the company to the next generation. From a tax perspective, the optimal time to start this process

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Hiring

Expanding Succession Planning Beyond Ownership

Business owners are regularly urged to create and update their succession plans. And rightfully so — in the event of an ownership change, a solid succession plan can help prevent conflicts and preserve the legacy you’ve spent years or decades

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HR

The Long And Short Of Succession Planning

For many business owners, putting together a succession plan may seem like an overwhelming task. It might even seem unnecessary for those who are relatively young and have no intention of giving up ownership anytime soon. But if the past

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Audit

Assessing And Mitigating Key Person Risks

Auditing standards require a year-end risk assessment. One potential source of risk may be a small business’s reliance on the owner and other critical members of its management team. If a so-called “key person” unexpectedly becomes incapacitated or dies, it

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