Debra Synovec & Associates

BUSINESS SUCCESSION PLANNING MEDIATION

PURPOSE

Business succession planning is complex; to do it successfully and achieve the outcome you want to achieve involves consideration of many diverse factors, including:

• Family member relationships
• Individual needs
• Ownership transfer and transition
• Estate planning
• Personal financial needs and retirement

Lawyers and accountants are indispensible in business succession planning; however, they focus on the financial and legal issues and frequently do not have the skills to help family members communicate and get to the heart of the issues so the relationship issues and individual needs and dreams excluded from the plan.  Without considering the relationships and individual needs, the best legal and financial plans fails. 

PROCESS

Business Succession Planning Mediation is a process that considers all needs, financial as well as personal, so that clients are able to establish a strategic plan which cultivates positive relationships, promotes asset maintenance, clarifies issues and keeps family members and business affiliates on the same page rather than fostering hidden agendas and ambiguous possibilities.  

Business Succession Planning Mediation provides a process for family members to have open dialogue to determine the needs of the family members so that business succession issues can be determined through open honest dialogue.  Mediating a business succession plan allows for the smooth transition of management and assets of your business in the future.

Business Succession Planning Mediation is a private process in which a neutral third party facilitates the discussions between the participants to enable them to create a constructive, well thought out business succession plan.  Lawyers and accountants are usually brought into the process for advice and guidance regarding financial and legal issues.  Frequently a business succession plan is done in conjunction with a family estate plan.