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The Role of CPAs in Business Succession Planning

  • Writer: Aashir Abbas
    Aashir Abbas
  • Sep 15
  • 1 min read
The Role of CPAs in Business Succession Planning

Every business owner will eventually exit their company — whether by retirement, sale, or unexpected circumstances. Without a succession plan, businesses often face financial turmoil, family conflict, and loss of value.

At MarkhamNorton, we help Fort Myers business owners create comprehensive succession strategies that protect both the business and their legacy.


Why Succession Planning Matters

  • Ensures leadership continuity.

  • Maximizes business value at sale or transfer.

  • Reduces risk of disputes among heirs or partners.

  • Provides financial security for the owner’s family.


Key Elements of Succession Planning

  1. Business ValuationEstablishes a fair and realistic company value.

  2. Ownership Transfer OptionsSale, family transfer, management buyout, or employee stock ownership plans.

  3. Tax ConsiderationsStructure transfers to minimize estate and gift taxes.

  4. Timeline & TrainingGradually transition leadership responsibilities to successors.


How CPAs Support the Process

  • Provide valuations and financial analysis.

  • Develop tax-efficient transfer strategies.

  • Coordinate with attorneys for legal documentation.

  • Offer ongoing advisory support post-transition.


FAQ

Q: When should I start succession planning?A: Ideally 5–10 years before transition, but it’s never too early to start.

Q: Does succession planning apply to small businesses?A: Yes, even family-owned shops need a plan for smooth transitions.


Plan for the future with business succession planning from MarkhamNorton in Fort Myers.



 
 
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