Succession Planning Services

The successful transfer of knowledge, expertise, management skills, and ownership of a family business from one generation to the next can be a difficult and emotionally challenging process. We have been able to help family business owners, including farm families and families with rural land-based businesses, assemble and implement key pieces of a successful succession plan, including wealth development, estate planning, business structuring and family communications.
 

A good succession plan is really four plans skillfully woven together.

  • A Retirement Plan for the Primary Generation
  • An Ownership Transfer Plan for the Secondary Generation
  • A Management Transfer Plan
  • A Contingency Plan

In addition to our planning role, we serve as facilitators to implement, coordinate, and lead a team effort for the achievement of your succession goals. We do not want to replace your relationships with your current professional advisors.
 

This is an important point of distinction: The Henderson Group works with and through your attorney, CPA, insurance advisor, and other professionals to put your succession plan into action. These are the professionals you know and trust; our expertise is to coordinate and manage their skills for your benefit, in accordance with your values.
 

Depending on circumstances, we also might recommend the formation of an Internal Forum (or Family Council) to address the communications challenges inherent in every family, or an external Board of Advisors who will meet to review transition issues and progress.
 

If you are a family farm or business owner, please contact us about the ways we can help you bridge the generations.