Stepping back can mean a planned retirement or an unexpected absence. The business needs someone able to act, and you and your family need a workable funding plan.
See how the options differ and what we could review together.
No details needed. Start with the question on your mind.
THE BUSINESS OWNER’S NOTEBOOK02
Bring the important pieces together.
01
Continuity today
People. Access. Decisions.
+
02
Ownership tomorrow
Successor. Value. Funding.
Start with the question on your mind.
THE STARTING POINT
Continuity planning considers how the business can operate through disruption. Succession planning considers future leadership and ownership. [1]
01
The unexpected
Who could act if you could not?
02
The transition
Who might lead or own the business?
03
The funding
How will an agreed transfer be paid for?
A FEW MINUTES. BETTER QUESTIONS.
Start with a situation.
Choose a situation and save the questions you would like to discuss. These prompts are general information, not individual advice.
AN ILLUSTRATIVE SITUATION
Someone needs to act tomorrow.
An owner is suddenly unavailable. Staff know their jobs, but no one is clear who can approve payments, contact key clients or make urgent decisions.
WHAT TO COMPARE
Start with responsibilities, lawful authority and access arrangements. Compare what a trusted manager can do with what requires formal legal authority. Insurance may help with funding a covered event; it does not give someone permission to run the company.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
AN ILLUSTRATIVE SITUATION
One child wants the business. Another does not.
An owner hopes to pass the company to the child who works there while treating other family members fairly and retaining enough retirement income.
WHAT TO COMPARE
Compare ownership, management responsibility and family support separately. Equal share ownership is not the only approach to fairness. Valuation, a payment schedule and other estate assets may help shape the plan; insurance is relevant only where a covered funding need fits.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
AN ILLUSTRATIVE SITUATION
Your team wants to buy, but needs time to pay.
A capable management team may be the right successor, but cannot pay the full price immediately.
WHAT TO COMPARE
Compare outside financing, agreed instalments and a staged transfer. Instalments may provide income, but keep you exposed to the buyer’s ability to pay. Review security, control and what happens if payments stop with your lawyer and accountant.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
AN ILLUSTRATIVE SITUATION
You plan to retire, but the sale is not certain.
An owner expects sale proceeds to fund retirement. A buyer has not been found, or the timing and price are still unclear.
WHAT TO COMPARE
Compare an earlier sale, more preparation time and gradually reducing your role. Build a personal income plan that tests a delayed or lower-value sale. A business valuation is an estimate, not a promise of a buyer or a sale price.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
Compare what each option does.
Open an option to see where it may help and what to weigh.
01Family transfer+
May preserve family involvement and allow a gradual handover. Compare readiness, family expectations and how you will be paid. Familiarity does not remove the need for agreements and a valuation. [1]
02Management or employee buyout+
May keep experienced people in charge. Compare financing, staged payments and your exposure after stepping back. The best operational successor may not yet have the funds to buy. [1]
03Outside sale+
May offer a broader buyer pool. Compare likely net proceeds, timing, buyer conditions and the work required to prepare. Do not treat an asking price as retirement cash already secured. [1]
04Emergency continuity plan+
Provides instructions for an absence before any planned exit. Combine delegated responsibilities, legal authority, accessible records and funding. It supports, rather than replaces, the longer-term succession plan. [1]
A little more clarity.
Does a will cover business continuity?+
A will addresses matters after death. An absence during life also needs attention. Your lawyer should review authority, corporate documents and agreements; your team needs operating instructions. [1]
Would life insurance fund my retirement buyout?+
A planned retirement does not trigger a life insurance death benefit. Compare sale proceeds, reserves, financing and instalments for that exit. Insurance may address separate death or covered-disability risks under its terms. [1]
What can David help with?+
I can help identify personal and business protection needs, review coverage and funding gaps and connect those questions to your retirement goals. Your lawyer, accountant and business valuator handle their respective legal, tax and valuation work. [1]
A RELATED QUESTION
Would a change in ownership also require a funding plan?
What would you like the next chapter to look like?
Tell me when you hope to step back and who might take over. We can identify the protection and funding questions to address now, alongside the work for your lawyer, accountant and other advisors.
I help people make clearer decisions today, before life forces harder ones later.