"An inheritance is more than money. More importantly, it’s about leaving a legacy of values, character, and wisdom."
Succession planning in a family business is more than a financial and legal transfer of the estate – it goes beyond tax planning and corporate structuring. Ultimately, succession planning is about leaving a legacy – built on values, character, and commitment to results. The foundation of successful succession is an effective governance structure and process for building trust, respect, good-will, open communication, clear goals and accountabilities, and a commitment to work for the betterment of everyone. Once this foundation is built, working with legal and financial advisors will run much more smoothly. Come prepared to learn the foundational principles and practices for effective succession planning in your business family.
Come prepared to equip your business family to:
- Build a solid foundation for sustaining your business by making the shift from:
- being equal to being equitable with your children.
- an entitlement to an accountable mindset.
- a parenting to a partnership.
- success to significance.
- Manage the transition of succession in a way that will pull your family together at a time when it may seem as though it is falling apart.
- Ensure accountability, leadership, and success into the next generation through clear personal goals and aligned values, with well-defined accountabilities and consequences
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