Assessing the Financial Implications of your Succession Plan

Are you approaching retirement age? Has the time come to start thinking about succession planning? Of course, the earlier you start putting together a succession plan, the better. But, if you see yourself calling it a day in the next few years, you really need to get a move on. Putting together a succession plan is a lot more difficult than a lot of people initially realise. The transition period is going to be tough, with many pitfalls to avoid and factors to think about. A lot of the hurdles are going to be financial in nature, which is why it is so important to evaluate your succession plan’s financial implications.