The Importance of Core Purpose in Family Succession Planning

“Any succession plan needs to start with a clearly defined core purpose, with the specifics of the plan building outward from that center,” writes Platinum’s Tom Hubler in a recent blog post. “Many succession plans by (otherwise successful) entrepreneurs start and stop with the notion of saving money on estate taxes as they transfer their wealth down to the next generation. Important as this may be as a tangible goal, it does not speak strongly to a clear, broader core purpose.”

Read the post — An Introduction to Inside-Out Succession PlanningTM, Part I — where Tom defines and illustrates the four “core purposes” that cover almost all of the wide range of potential motivations for a succession plan.

Contact Tom for more information.