A proper Succession Plan is a major part of the overall Business Continuation Plan for a company. There are many factors that must be considered to start the planning process and to properly implement a succession plan that has the best chances of success. Since every organization is different, a tailored plan is an absolute necessity due to the inherent complexities involved in the planning phase and the selection of the best fit candidate. Since succession planning is not an exact science, as many as 15 years may need to be allocated in a proper plan since training and mentoring will be required. This plan must be integrated with your business continuation plan for personal estate and tax reasons.

Our professionals at Fredrick James can help your company design a tailored succession plan whether your intended successor is a family member, business partner, employee, an entity or future talent. We will also customize your plan using estate, business and personal tax planning techniques that make sense for your individual and business needs.

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