OIL AND GAS SUCCESSION PLANNING LAWYER
Structuring and implementing a plan to
extract the financial potential when transitioning out of the business
that you own.
Business succession planning is about preparing your
its eventual sale or transference (i.e. through an
with the intention of enabling the company's owners to attain the
optimal financial return from their long-term efforts and investment
[together with providing the current ownership with confidence in the
company's future, so as to increase the certainty of the departing
stakeholder's pay-out, if the succession plan is structured as such].
Effective succession planning requires appropriate time and preparation,
so as to optimize the realizable return from the company's sale or
transference. Yet for far too many corporate stakeholders, they believe that the
company has but a single value, which is easily realizable and
they will receive that value when they retire or otherwise seek to
divest their stake in the company. That is rarely, if ever, the case.
corporate succession planning requires considerable preparation
that should begin many years in advance of the intended divestiture of
one's stake in the company.
It transforms an operational business into a transitional business,
which is tweaked and modified in an effort to obtain the optimal return from
disposition of one's stake in the company.
waiting until the last minute to transition out of a company, the
stakeholders will all too often incur a
massive cut in their pay-out. It is quite astonishing
how much upside corporate stakeholders throw away because they fail to
preparation. As such, business succession planning should be undertaken with the right
team of experienced professionals (lawyers, accountants, investment
advisors, business consultants), whose knowledgeable advice is
implemented, pays serious financial dividends.
For more information with respect to company
succession planning from the law firm of Neufeld
Legal P.C. or to schedule an appointment, contact our lead lawyer
Christopher Neufeld at
Christopher@OilGasLawyer.ca or 403-400-4092.