Succession Planning Tools
A family focused on taking constructive action will achieve succession planning success. To aid in the process each step of the way, these tools may help. They are listed in the order of anticipated use and categorized by key topics. To view or download any tool, click on its name.
Gauge your progress by checking off each action step as you move through the planning process.
Map out your family meeting and discussion topics.
Communication is key throughout the succession process.
These 20 statements will help you identify your key priorities and potential first steps.
Get started by ranking your priorities.
Take a few minutes to answer these questions, they compare to find common goals.
This interview guide will help you identify the best candidate to advise your family during the process.
This worksheet is a tool for exploration and is intended for conversation purposes only.
This tool is great for indentifying the strengths and weaknesses of your business plan.
One aspect of effective succession planning and leadership development is to fit the best candidate to each operational role, and ensure that everyone involved is clear about the position’s qualifications and expectations.
It is important to take time to plan for retirement. This tool is designed to help you plan.
Financial security depends on an honest assessment of what you're likely to have and need.
Long term care insurance is just one part of a family’s contingency plan. It’s critically important to work with your succession planning professional for assistance in determining how it fits into your overall plan.
Life insurance is designed to provide money at the time it's needed most.
Tax and Legal Issues
Use this review tool to review your buy/sell agreement periodically.
This worksheet is designed to help you discuss the common issues included in an operating agreement.
Organize the details necessary to be included in a family employment policy.
It is important to have job descriptions for each position to ensure a good fit for the best candidate.
Using a questionnaire with prospective merger candidates will standardize the process and prompt and informed decision.
There are a few business issues that need to be considered about suitability of merger partners.
Assess potential leaders to determine areas of strength and needed growth.
Prior to addressing leadership development, we recommend that you update your business plan and operating agreement to reflect ownership transition.