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Family Business Succession Plan Checklist

Family Business Succession  Plan Checklist

 

 

 

 

 

Family Business Succession Plan Checklist

  • Develop a Clear Strategic Business Plan
  • Determine a Future Role For  Founders and Owners
  • Advancement and Education of Next Generation
  • Multi Level Conflict and Dispute Resolution Plan
  • Recognition of Difficulty of Readiness for  Real Change
  • Communicate Short, Medium, and Long Term Goals
  • Effectively Advance Transition Management
  • Let the Best Ideas Win Integration
  • Financial Analysis and Projections
  • Neutral Board Of Advisors or Directors
  • Interactive Relationships with Key Personnel
  • Define and Update Roles Responsibilities and Divisions
  • Succession Hierarchy Structure
  • Personal and Professional Financial Plans
  • Asset Division Proposals
  • Communicate Ownership Responsibilities and Understandings
  • Wealth, Estate, and  Trust Preservation Plans
  • Remember Family Business is Personal and Professional For Everyone