Succession Questionnaire

    1. I know when I want to leave my business and to whom.
    2. I know how much money I'll need to leave with to live the life I desire.
    3. My company's current value exceeds the value I'll need to retire comfortably.
    4. I know the after-tax value I'll need from my business to meet my goals.
    5. My key employees are incentivized, compensated, and motivated to increase the value of my business and remain with the company.
    6. I have developed a growth strategy for my company that aligns with my exit.
    7. I have taken steps (such as covenants not to compete) to protect my business assets.
    8. I have taken the appropriate steps to operate my company in a tax-efficient manner.

If you intend to transfer your business to a family member, please skip to question 13.

    9. I have completed a pre-sale due diligence and addressed identified issues.
    10. I’ve completed pre-sale tax planning to maximize my after-tax sale proceeds.
    11. I know how much other companies in my industry are selling for.
    12. I understand the non-financial characteristics that make my company valuable to potential buyers.
    13. I’d prefer to transfer my business to a family member or key employee If they had sufficient resources.
    14. I know how to transfer my business for top dollar while paying a minimal amount of taxes.
    15. My company is free from family succession concerns.
    16. My successor has the skills and knowledge to be the owner of the business.
    17. Should something happen to me, I have a written contingency plan for my business, and it includes a way to retain key employees.
    18. My estate plan protects my family by ensuring that it receives the full value of my ownership should I not live to transfer it.
    19. My estate plan includes strategies to allocate business cash flow and transfer ownership to whomever I choose.