What should I consider before a business transition?
A clear starting point for the conversation ahead.
Connect the business transition with your personal and family priorities. Clarify the timeframe, who should be involved, and which legal, tax, and wealth-planning professionals need to coordinate.
Define the change you are considering
A transition could mean a new role, a family successor, or an eventual exit. Before comparing specific strategies, write down what you want the change to make possible for your life and family.
Give the people involved a voice
iA’s family-business succession article discusses communication and family involvement. The people affected may have different expectations about ownership, leadership, and timing.
- What role would I like to have after the transition?
- Who needs to participate in the discussion?
- Which personal and business decisions need to be planned together?
Coordinate the professional advice
iA lists business and succession planning among its services. Ask how your advisory team would work with your legal, tax, and other professionals. This educational starting point does not prescribe a sale, valuation, or tax strategy.
Sources you can explore
iA — Family business succession iA Private Wealth — SolutionsThe family-business succession article was published in May 2024.
Original educational summary. Not reviewed or approved by iA. General information, not personal financial advice.