Done well, succession planning ensures the long-term future of your business with the right people taking over in the right areas at an agreed time. It also means things do not get needlessly complicated in unfortunate circumstances.
By having a solid advisory team around you and having necessary conversations with key people early, you can start taking steps to plan a smooth transition into retirement or other pursuits. We advocate simple concepts such as life insurance for key people to reduce worry and financial hardship.
