I want the business to stay in the family

Three priorities

Keep the first conversation focused.

• Understand who wants—and is prepared for—which role.
• Compare fairness, control and financial needs.
• Align agreements and estate documents.

1. 01

   Compare your exit and succession paths

   The best exit path depends on what you need the transition to achieve. A family transfer, a sale to employees and an outside sale can produce very different outcomes for control, cash, timing and the people involved. Compare those outcomes before narrowing the discussion to price or a favored buyer.

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2. 02

   Estate planning for business owners

   An owner's estate plan needs to explain more than who inherits. It should connect the people who can act, the business interests that may transfer, the cash needed during a transition and the family's expectations. Legal documents, ownership agreements and account records need to tell a compatible story.

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3. 03

   Buy-sell agreements: make the next step clear

   A buy-sell agreement sets rules for an ownership transfer when an agreed event occurs. It can address who may buy, how the price is determined, how payment works and what happens during the transition. The agreement and its funding need to work together. Having a signed document does not, by itself, mean a future purchase will be affordable.

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4. 04

   Business valuation: know what the number means

   A business valuation is an informed opinion of value for a particular ownership interest, purpose and date. It helps turn an uncertain number on your personal balance sheet into a question you can examine. A useful valuation explains the reasoning and assumptions behind the result. It is not a promise that a buyer will pay that amount.

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