Succession Planning

Business succession planning is simply the process of determining how you are going to transfer your business ownership, and transition out of a business management role while maximizing your personal security.

A detailed transitional plan is crucial in ensuring that you maximize the return from all your hard work over the years along with the continued vibrancy of your business.

The value of your business may represent a substantial part of your net worth and therefore, a significant portion of your retirement income. A well-thought out and detailed succession plan will bridge this aspect of your business seamlessly to the retirement income
you will depend upon.

If you hope to have your business continue by one or more family members, you will likely need to co-ordinate your business succession plan with your estate plan. You may also want to explore any tax deferral opportunities that could benefit you and other family members.

Business succession planning is not done in a vacuum. It is part of a larger planning process that we call the Continuous Bridge. This process covers all aspects of your transitional planning and is designed to help you ensure that:

  • You have enough income in retirement
  • Your are currently maximizing tax planning opportunities
  • You cover off all contingency planning in case of premature death or disability
  • You have the proper business structure to ensure tax-efficiency
  • You have an estate plan in place that ensure assets go to intended beneficiaries

At Assante Capital Management Ltd. we work in tandem with you and your other advisors to make sure this transition is well-thought out and exactly what you envisioned
all those years ago.