Prasad & Company LLP provides expert estate and business succession planning. If you are going through a transfer of business ownership, personal wealth, or just planning for the future, the firm has a high level of experience and knowledge to assist in creating a smooth transition.
Prasad & Company LLP helps clients face the challenges encountered during these processes. The firm will guide clients in reaching their financial and business transition goals via a plethora of different services. These services can include exit strategy planning, business valuations, and financial and retirement planning. The firm can professionally represent either you or your business as an appointed trustee and/or executor.
From defining an exit strategy and building a long-term financial or retirement plan to determining the valuation of your business, our team of professionals help you:
We professionally represent either you or the business or work in the capacity of an appointed trustee and/or executor.
Prasad & Company LLP understands that most of your time is spent on building and operating the business as a business owner. As such, the concept of succession planning is often not seen as a priority. However, effective succession planning requires a structured approach to protect the financial well-being of your family, as well as your brand with customers, suppliers, and employees.
It is here where our team can provide expert estate and business succession planning to help you transition to your next chapter in life. Whether you are transferring business ownership, personal wealth, or just planning your future, the firm has deep experience and knowledge to help you navigate the challenges encountered at each step of the process.
The business succession planning strategy lays out how the transfer of business ownership will occur once the current owner transitions out of their management role in the business. These strategies are essentially designed to support a seamless change of ownership without material disruption to customers or operations while optimizing the financial security and welfare of the current owner and their family.
While every business stands to benefit from precise succession planning, small businesses can find the practice particularly useful to identify and develop the talent required to take the business forward. In addition to that, there are several other reasons to build business succession planning strategies proactively:
The importance of succession planning in a family business is heightened further. If a family member is going to be taking over a business, the business succession plan will need to be aligned with the estate plan. There may also be tax deferral opportunities that can be capitalized on. These considerations add further complexities when dealing with family business succession planning.