Family Succession Planning

With EAPs expertise, we help families navigate the complexities of succession planning, ensuring a smooth transition and the continued success of their businesses across generations.

Family businesses often face challenges that impede their smooth transition to the next generation. These challenges include:

  • Sibling rivalry
  • Family conflict of interest
  • Work ethics
  • Communication protocol
  • Gender inclusivity

A successful Family Succession Plan involves:

Earning succession: Family members earn their roles
Establishing Transparent Process: Clear & transparent succession process to avoid family conflicts
Alignment with strategy: Ensuring alignment with business owner’s vision

EAP Consulting provides expert guidance in crafting essential documents for Family Succession Planning, including:

  • Family Constitution or Charter
  • Family Governance Documents
  • Family Wealth Statement
  • Succession Document Plan
  • Wills & Trusts
  • Shareholders Agreement
  • Letter of Wishes
  • Management & Leadership Development Programme
  • Buy & Sell Agreements
  • Family Employment Policies
  • Contingency Plans

Why you need a Succession Plan?

  • Preserving Family Wealth
  • Ensuring Business Continuity
  • Retaining Key Talent
  • Mitigating Risks
  • Preserving Company culture
  • Transfer of Assets
  • Role Shifts