Business Succession Planning

AWCI webinar

On February 14, Todd took part in a webinar hosted by the Association of the Wall and Ceiling Industry. Focused on business succession planning, Todd looked at different options including family succession, employee succession and third party sales. He would go on to identify several roadblocks, both emotional and business-related, and gave advice on strategizing, telling attendees to start with a written chart that defines their goals. After discussing typical goals, Todd also discussed structuring a strategy, how to minimize family friction, and various issues related to gifts and taxes. He also examined several case studies of family businesses and how they dealt with succession.