Business Succession

Personal Finance & Tax Management Services

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Business Succession

Wellspring has many clients who successfully run closely-held businesses and need help planning for the future. We help them make these decisions and design a plan that covers both orderly transitions of management and ownership.  As in our approach to wealth management, we approach business succession planning holistically.  We consider our clients’ influences and goals with the succession plan, providing the foundation for future decisions.

Wellspring can help clients assess where they are, versus where they would like to be. We’ll also help implement, review and rebalance the plan.

Wellspring’s business succession services include:

  • Identifying a potential successor and determining the amount of future family involvement
  • Fostering communication among family members regarding their interests in and ideas for the future of the family business
  • Developing a plan that meets the immediate and future needs of our clients and their business
  • Crafting legal documents to put the plan into practice
  • Monitoring and rebalancing the business succession plan as situations and business environments change
  • Assisting with the selection of advisors to address specialty areas of the plan, including compensation and rewards planning, wealth transfer techniques and corporate restructuring