We help you think prudently and take correct decision about the succession
Small companies or family business setups, which are dependent on one key person, often face a unique challenge. In the absence of a proper business succession planning, the company falters on demise of the key figure. The same is applicable in case a key person leaves the organization. Business succession planning is an effective way to fill up the void that has been created in absence of the key figure, thus ensuring an uninterrupted running of the organization. What is indeed surprising is that even hardcore business professionals, in spite of having shrewd foresight, tend to overlook this significant aspect. A probable reason might be that they can’t bear the thought of passing on the rein of his cherished empire to someone else!
When it comes to business succession planning, it is very important to think practically, keeping aside the sentimental aspect. After all you don’t want your family to struggle and go through a tough phase in your absence. At Micheletti Insurance Services, we help you think prudently and take correct decision about the succession. We chalk out a precise succession plan tailor made just for you. While doing so, our team of expert professionals take into account all crucial aspects like stabilization of the business, smooth transfer of the business to the successor (as per owner’s wishes), minimization of estate taxes and expenses as well as maximization of wealth passed on to the next generation.
Deciding a competent successor can be a tough task and an emotional decision too. Just because yours is a family business you need not pass the baton to your incompetent offspring. The same holds true for an organizational setup. An employee who is second-in-command need not succeed you, if some better options are available. Micheletti Insurance Services makes the succession planning easier and least complicated. Our risk management team does a thorough assessment of risk factors related to your business, determines value of each owner’s interests, then explores and compares available options. Finally the business succession goal is established. A written succession plan is developed only after getting approval of the client.
Be it merger, transfer or outright sale, Micheletti Insurance Services makes sure that the customer is explained pros and cons of every succession option so that he can take an informed decision. For any assistance, get in touch.