Seven Deadly Sins – Succession Planning
Succession planning is a complex process and should be addressed by the leadership of skilled advisors and associates. There are a number of best practices that help insure a successful succession planning process. One of the most important aspects is to determine the leadership for the planning. Without identifying the leadership the planning process will likely drift and fail to meet goals. With leadership identified, the seven common mistakes are identified along with solutions on how to minimize their impact.
- Explain the succession planning process.
- Guide the decisions that need to be made and questions that need to be asked.
- Understand that there is no magic bullet or “one size fits all” plan.
- Understand what succession planning is and what it is not.
Joseph Maier, Shareholder at O’Neil, Cannon, Hollman, DeJon & Lang
Joseph Maier is a shareholder in the law firm O’Neil, Cannon, Hollman, DeJong & Lang. He assists business owners and families in succession and estate planning. He also advices on a wide range of other topics including employee benefit design, executive compensation planning, income tax planning regarding the creation and operation of a business, and mergers and acquisitions. He is a highly rated speaker frequently making presentations to business and professional organizations on closely held company issues. Joe has made presentations for the National Business Institute, Northwestern Mutual, Hoopis Performance Network and Principal Financial Group among others. He graduated summa cum laude from University of Wisconsin Law Schools and was Editor for UW Law Review.
CEPAs receive 1 CE credit
CFPs receive a certificate for 1 CPE credit
CPAs receive a certificate for 1 CPE credit