Succession Planning

Passing on Success to the Next Generation

Nothing can be more difficult for the family-owned business than the planning of succession. Unplanned succession has led to family fights, forced sales and bankrupt companies, all because the owners failed to plan for one of life's certainties. Planning succession requires a careful look at the needs of the family that owns the business and the management needs of the business.

This presentation explores a program Funkhouser Vegosen Liebman & Dunn Ltd. has developed to analyze those family and business needs and seeks to harmonize the two. This program considers the various alternative strategies, including inter-generational transfer of management responsibility, inter-generational transfer of ownership, sale of the company, use of non-family management and other strategies.