Contact & Chat


live chat

Family Business Succession Plan Checklist

Home/Business Dispute Mediation Services/Family Business Succession Planning Checklist
Family Business Succession Planning Checklist 2017-08-05T16:57:14+00:00

Family Business Succession Plan Checklist



We all need to focus and start at the beginning. Succession Planning is a difficult and sometimes uncomfortable task. We al lwill be confronting inevitable  realities that may propel may not want to face. Personalities, programs and progress may provide multiple areas for conflicts.

  1. Develop a Clear Strategic Business Plan
  2. Determine a Future Role For  Founders and Owners
  3. Advancement and Education of Next Generation
  4. Multi Level Conflict and Dispute Resolution Plan
  5. Real Defined Job Descriptions for everyone moving forward.
  6. Recognition of Difficulty of Readiness for  Real Change
  7. Clearly communicate Short, Medium, and Long Term Goals
  8. Effectively Acknowledge and Advance Transition Management
  9. Let the Best Ideas Win Be Integrated as a Strategic Thinking Method.
  10. Financial Analysis and Projections
  11. Neutral Board Of Advisors or Directors
  12. Interactive Relationships and meetings with Key Personnel
  13. Define and Update Roles Personal and Professional Responsibilities and Divisions
  14. Succession Hierarchy Structure
  15. Personal and Professional Financial Plans for each Family
  16. Asset Division Proposals
  17. Communicate Ownership Responsibilities and Understandings
  18. Wealth, Estate, and  Trust Preservation Plans
  19. Remember Family Business is Personal and Professional For Everyone
Call Now Button