Our Services
Family Succession Planning
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