Planning for your exit is often one of the hardest things a business owner must do. Envisioning the business you built, or helped to develop, without you is complex, difficult, and emotionally challenging. There are often far more questions than answers about how succession will happen and the steps needed to move the process along. Key issues such as leadership selection, personal financial concerns, the impact succession will have on the business, and preparing a detailed strategy are coupled with the difficult human and emotional impacts. However, when succession planning is executed properly, ideally over a number of years, it allows for the orderly management transition while protecting the exiting owner professionally and financially.

Selden Fox has extensive experience creating succession plans that yield maximum benefit for Chicago companies and business owners. We are adept at identifying issues, creating solutions, and managing the succession process. Our accountants understand the common struggles that arise in each area of planning, including management delegation, client transition, personal financial planning, and estate planning. The result of our experience is a well-developed and thoughtful planning approach for clients that makes transition a “no surprise” experience for all involved.

Our succession planning services include:

  • Exit strategy and timeline creation
  • Business valuations
  • Business restructuring
  • Buy/sell agreements
  • Due diligence consulting
  • Estate and gift planning
  • Financing arrangements
  • Financial statement audits
  • Negotiation assistance
  • Stakeholder communication
  • Tax planning
  • Transaction structuring

The key to a successful succession planning process is to begin the process early with a firm that can move forward on an established schedule, while keeping the business operational and successful. It is essential to find a partner that can guide you through difficult challenges, toward future opportunity. Contact us today to help you start or revitalize your succession planning discussion.