Business succession planning is a challenge for most owners.  As well as taking care of legal issues, there is the very real need to identify and develop key people in the company who have the requisite skills to fill all important leadership positions in the company.

Early succession planning has been shown to significantly increase the probability of successful transitions. This is because the availability of the needed, experienced, and capable people in the organization is deliberately cultured over time.

This grooming for succession has also been shown to increase employee satisfaction and company efficiency.  Employees nurtured in this way tend to feel more valued and often work harder and more effectively as a result.

In larger organizations, “replacement planning” can be a cultural value at all levels of the business.

Key to the succession planning process is at its core, a business philosophy that states that top talent in the company should be managed for the greater good of the corporation. A value system based upon a “talent mindset” can become a major benefit to the potential longevity and competitiveness of the company.

Successful Succession Planning is Common

The concept of business succession planning is not new.  Successful businesses of all sizes inevitably grapple with this process at some point in their evolution.  It is also true that a large majority of companies flounder or fail at this point due to a lack of early succession planning.

At Incorporation Attorneys, we are able to offer advice and counsel to aid in this process.  The more successful and/or the larger your business is, the more important a succession planning mindset can be.  Sometimes our clients are small business owners and simply reach a point in their business where they would like to transfer ownership to enable them to take on a new challenge.

The small and medium business practices at Incorporation Attorneys are able to offer experienced assistance to companies early in the succession planning process.  From basic succession planning principles through the preparation of important legal documents to enable a smooth transition – when the time is right.

The documents that usually need to be prepared include family revocable trusts, wills, durable powers of attorney, and advanced health care directives.

Whether ownership is intended to go to family members or transferred back to a corporation, all of our clients want this process to happen efficiently and seamlessly. We help our clients set up and plan the process to minimize costs and interruptions to the business.  The earlier this process is initiated the better.

To start this process in your organization call Incorporation Attorneys +1 (714) 634-4838 today or complete a simple meeting request form.

Andrew Gale is based in Orange County, see more content from him on Youtube and Avvo.