Asked by Angelina Herrera on Jun 28, 2024
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A succession plan must include legal aspects of any ownership transfer but need not address procedures for choosing or designating the firm's new leadership or any financial and estate plans relating to the transfer.
Succession Plan
A plan for how a firm’s leadership transition and related financial matters will be handled.
Ownership Transfer
The legal process of transferring the title of property, assets, or business from one entity or individual to another.
Firm's Leadership
The individuals at the top of an organization who are responsible for setting strategic directions, making major decisions, and inspiring employees towards achieving corporate goals.
- Absorb the intricacies of succession challenges and strategies in enterprises owned by families.
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Learning Objectives
- Absorb the intricacies of succession challenges and strategies in enterprises owned by families.
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