Factors To Consider When Developing Your Succession Plan

How? When? Why?

Are you looking to groom your successor from within the organization? Withum can help determine the best plan forward for transitioning leadership and transferring ownership to the next generation. Develop a business transition plan that includes the best time to start the transition, how much to transfer, and how to ensure the continued growth and success of the company before, during, and after the shift, while maintaining an appropriate focus on the individual goals of those involved. Our private client service professionals are well-versed in a vast array of gift and estate planning strategies, including:

  • Outright gifting of your business interest, including the establishment of long-term gifting strategies
  • Revocable trusts
  • Irrevocable trusts
  • Grantor retained annuity trusts (GRATs) and Grantor retained unitrusts (GRUTs)
  • Self-cancelling installment notes
  • Private annuities
  • Family limited partnerships

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Are you seeking to sell all or part of your company? Withum’s transaction advisory team is here to help. Whether selling to private equity, a competitor, or a strategic buyer, our advisory professionals can assist in due diligence, transaction structuring, and offer guidance to help you make the most informed decision possible. With years of experience, Withum can provide insight on how to best navigate the important factors to consider, while also helping the current executives plan for what life looks like after the sale has closed. From the direct sale of your business interest to the establishment of buy-sell agreements that pre-arranges the sale of your business interest when a subsequent event occurs, our private client and transaction advisory professionals will work closely with you through the sale process, from pre-transition planning to defining what your financial situation may look like after the sale has occurred.

Learn more about Transaction Advisory Services

Are you just starting to explore options to develop a succession planning strategy? Allow Withum to be your guide. Our dedicated teams can help explore every facet of your business transition plan based on your unique goals and circumstances. To assist, we offer a myriad of resources to fit your every need, including:

  • Residency planning as a method of mitigating the tax impact of a significant ownership change
  • Understanding the value behind the enterprise you have built to maximize the benefit derived from a potential sale transaction and/or transition within the organization
  • Determining whether an ESOP is the right fit for you

Learn more about Valuation Services

Have you begun executing your succession plan but are struggling with determining the best path forward after the transaction? Withum offers a variety of wealth planning tools to develop a blueprint for continued growth and success. Withum Wealth Management partners with Withum to bring the resource of a large investment advisory firm to Withum’s clients. With the combined expertise of Withum Wealth and our private client team, we can assist with personal financial planning, estate and trust services, charitable planning, and so much more.

Learn more about Withum Wealth Management

Develop a succession planning strategy to help minimize tax liabilities and guarantee a seamless transfer of ownership for your organization. Contact us to get started today.

Withum offers various services to assist in developing and executing a sustainable exit strategy. Whether you aim to cultivate an internal successor or explore selling a portion or the entirety of your company, Withum’s private client service experts can guide you through crucial considerations, ensuring a strategic setup for your company and personal success.

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For more information or to discuss your business needs, contact Withum’s Private Client Services Team.


Ted Nappi


Peter Hilera


Orlando, FL

Joseph Breen

Supervisor - Withum

Andrew Schoenemann

Senior Manager - Withum

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