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Business Succession Planning

Create a roadmap for business continuity.

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Developing a comprehensive business succession plan might require careful planning and preparation, but it is an essential step to set your business up for long-term success. This can include developing a plan to identify and groom qualified successors, evaluating internal talent, determining future funding options, and setting up legal structures to protect your assets.

Additionally, it is important to consider how you will divide responsibilities between family members or other stakeholders who will be involved in the succession process.

Navigating the legal and tax considerations of financial planning for business owners, more specifically business succession planning, on your own can be impossibly complex. That’s where Avidian Wealth Solutions steps in. Our advisors can work with your existing team of attorneys and accountants to help you create an effective plan and better prepare your business for the future.


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*AUM based on AWS current FORM ADV

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The importance of business succession planning

With all of the other responsibilities business owners like yourself have to manage, you may find yourself wondering “Is succession planning important? Do I really need to take the time and money to plan for my business’s future?” In short, the answer is yes.

Planning ahead gives you the opportunity to put in place formal protocol so that you can help your business remain in good hands after you’ve retired or decided to move on. Other benefits of succession planning include:

  • Development of a sound financial plan for the future
  • Improved communication between family members and stakeholders
  • Reduction of future conflict
  • Asset protection
  • Increased peace of mind knowing that your business will continue to thrive after you’re gone

Whatever your vision for the future of your business may be, Avidain Wealth Solutions can help you make sure it is realized.

Continue reading: Why you need a business succession plan

Why partner with Avidian for your business succession planning?

Boutique family office environment

Avidian offers a boutique family office experience ideally matched for the complexities that are required for family business succession planning. As such, we have the ability to offer the resources of a large firm with the intimate environment of a family office.

We will work with you to gain an understanding of your options and help put plans in place that work toward the current and future success of you and your business. Our comprehensive service model allows us to offer you support, whether you want to develop an estate plan that facilitates a seamless wealth transfer while working to reduce possible estate taxes or you need to develop a retirement income plan that helps you maintain your desired lifestyle after the exit, mitigating risks associated with the succession process.

Avidian Front Desk

Individualized guidance on legal and tax considerations

Structuring a succession plan for a business requires an understanding of tax laws, such as regulations related to estate, gift, and generation-skipping taxes, as well as the distinction between Class A and Class B shares. It is also important to weigh the costs and benefits of buy-sell agreements, compensation plans, and shareholder agreements.

At Avidian, we work in specialized, multi-disciplinary teams that are well-versed in business tax planning as well as the many multi-layer steps in succession planning. We have the resources and experience to provide you with custom-tailored advice that helps set your business up for the future that you have envisioned while working to minimize tax liabilities associated with the exit. This includes reviewing the structure of a sale to take advantage of tax-efficient strategies, like capital gains treatment, and considering options such as gifting or transferring assets to family members.

Federal Tax forms

Support in developing a roadmap to business continuity

Business succession planning should be an ongoing process, and Avidian is here to support you along the way, adjusting your plan as needed to stay on track with financial goals and coordinating with legal and tax professionals to help ensure a seamless transition.

Our team helps you establish plans that fit within your overall business risk management strategies, assists you in evaluating potential successors, and helps you create a comprehensive succession strategy designed to allow for you, your family members, and other stakeholders to thrive well after you’re gone.

We can also evaluate your current financial plan, identifying liabilities and risks associated with the exit process that may include assessing potential liabilities, insurance needs, and contingency plans if the exit does not go as planned.

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