Family Succession Planning
Through our association with Sharp Business Sollutions, CrownWatermark brings highly specialized and experienced experts in financial analysis, tax solutions, strategic planning and family dynamics to our clients. This methodology gives you comprehensive and practical solutions to the unique challenges you face in preserving the success you have created for your family.
How We Do It
Phase 1: Introduction
In a two hour meeting we discover the unique concerns of the stakeholders in the family enterprise. After a frank discussion, we will mutually determine whether there is a good match between our capabilities and the specific needs and challenges of your business.
Assessment of Business Transition Factors: Our system includes interviews of key people, analysis of financial data and business structure and clarification of family values, goals and priorities. The Assessment Phase is typically completed in 30 to 45 days.
At the conclusion of the assessment our clients have a clear roadmap for navigating the obstacles that lie between the business and the owner’s future vision. The client will also understand how we will assist them in achieving their business and family goals.
Phase 2: Implementation
Based on the owner’s aspirations, the family values and goals, and the specific business and financial factors, we assist the owners to methodically execute the Family Business Transition Plan. We work hand in hand with our clients to accomplish the family goals and objectives and overcome any obstacles that may arise. And, we are always sensitive to the complexity and richness of the relationships of all family members and key employees.
Phase 3: Creative Problem Solving
The creation of a multi-generational family business legacy takes years to unfold. Whether creating unique financial solutions, coaching a new generation of leaders, or training sibling management teams, we assist our clients to achieve their business and family aspirations, often utilizing other specialized advisors.
Do you have a written and executed plan ensuring…
• That your business can support your growing family?
• That your family can preserve and grow the business?
• Peace of mind for the owners?
• Financial Security for all?
• The transfer of knowledge and wisdom to successors?
• The eventual transfer of assets to heirs – not the IRS
Don’t let procrastination destroy your hard work and your family’s future! Contact us today and ask for any of the following technical memos:
The Seven Goals of Family Business Transition Planning
Family Business Transition – Readiness Self-Test
Taking Over the Family Business: Guide for the Younger Generation
A Board of Advisors May Benefit Your Firm
Call CrownWatermark at 253-279-4067 for your FREE consultation on succession and transition planning.
CLICK HERE to go directly to Sharp Business Solutions' website.
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