What Is Your Philosophy on Succession Planning for Businesses?

Video Transcript

Succession planning isn’t one size fits all. Every business owner has a specific goal in mind. Sometimes that goal involves getting as much income out of the property as possible. Sometimes that’s the increased longevity of the business, transitioning the business on to a family member, to an employee. And so, the first step is to understand what the goals of the business owner are. And then, we can work together to make sure that the business owner has the income they need from the transition and that the business, if it’s going to continue, has the proper cash flow as well.