Understanding Succession Planning
No Unfinished Business Podcast Ep. 14 w/ Stephen Caton
Do you or your client own a family business? Are you protecting its future success and your family’s sanity with a full succession plan?
Protecting Generational Success
Family-owned businesses present huge and unique challenges when it comes time to pass the business on. Without a succession plan in place, those challenges can create enormous conflict for families – usually the exact opposite of the founder’s intent.
Our guest this week is Steve Caton, Managing Partner at Patron Partners, LLC. He has over 35 years experience creating and implementing succession plans for businesses, and he joins us to explain why they’re important, how they work, and how you should talk about these plans to your clients.
The What, How, and Why of Succession Planning
He’ll cover the two main goals of succession planning. First, to transfer the family enterprise to the next generation and beyond; Second, to minimize those potentially brutal family conflicts.
We’ll then get into some recent research about these plans, why and how to stress-test a plan, and tactics for talking to your clients about getting this done.
Contact Steve at http://patronpartnersadvisors.com/
No Unfinished Business® Podcast
We hope you’ll join us each week, so hit that follow button, and if you have any questions, feedback, or ideas for topics, please reach out via social or email. We’d love to hear from you.
Contact John at email@example.com or via social.
Visit https://www.strohmeyerlaw.com/houston-professional-advisors for more info about how John works with professional advisors.
Schedule a free consultation with Strohmeyer Law to protect your family with an estate plan.
Receiving a letter from the IRS might send shivers down your spine. So what's your first step? Is it always a cause for alarm? Let's walk through what you should do.