Business Succession Planning

All businesses will experience a succession event at some stage, either as a result of the sale of the business, or the retirement, death or disability of an equity owner.

Unfortunately, very few businesses adequately prepare for succession events, which can result in an equity owner’s interest being transferred to an inappropriate person, with major disruption to the business, loss of profits and possibly time-consuming and expensive court actions.

We can assist with essential documentation, including:

  • Shareholder or unitholder agreements
  • Agreements dealing with funding for the purchase of the interest of a deceased or disabled equity owner (generally known as buy/sell option agreements)
  • More comprehensive long-term succession plans, which are usually drawn up in conjunction with the other professional advisers to the business

Call Harvey today to prepare for your company’s future.