Family Business Succession Guide 2nd Ed
Publication Date :
1 Oct 2014
Family Business Succession Guide 2nd Edition provides a practical approach to family business succession planning. Owning and operating a family business can be greatly rewarding but involves complexities that result from the interaction of family and business. It is important that families get the right advice when dealing with the issues involved in passing on their life's work. Poorly handled succession can damage both the business and the harmony of the family. This book takes the reader through a succession planning process using the family business constitutions to address the typical issues involved in succession and the interactions of family and business. The 2nd edition of the Guide has been updated to include chapters on: Exit Planning The Family Office Containing many practical examples, diagrams and case studies direct from the authorâ€™s first-hand experiences, this guide outlines the practical process to be following under a succession planning assignment. The book also helpfully includes planning checklists that can be used as templates by advisors and SMEs themselves to ensure they get off to a good start on succession planning. These checklists cover issues such as getting started, working with a family business facilitator, developing a family participation plan, preparing a management development plan, and the steps involved inÂ grooming a successor. Other templates and forms include Objectives of the Family Business, Management Philosophy, Agenda - Family Meeting, Family/Business Interaction, and Family Values. Authored by Sue Prestney, a Partner at PwC, the book capitalises on Sueâ€™s extensive experience in working with family and private businesses for over 30 years. She specialises in family business advising, including taxation advice, succession planning, valuations issues, and transaction support including preparing businesses for sale.