How to Plan for Succession: Preserving, Protecting, and Passing on Wealth

Robust governance practices form the cornerstone of success for the family wealth enterprise, and ongoing succession planning is one element of a mature governance system. As family considers its future succession, it is vital to understand why a well-conceived plan is so important and what the critical elements of the plan entail. Here, we outline five critical steps, techniques, and considerations for your succession planning. By taking this proactive approach, you can better position your family for continued success and safeguard your family legacy for generations to come.