Business Succession

A Business Succession Plan is essential for any privately owned company.  It is used to transfer a deceased
or disabled equity holder's share of the company in exchange for fair market value.

AXIS Financial Group can work with you and your business partners to develop a comprehensive Business Succession Plan. We have successfully assisted businesses of all sizes, in every industry, by using the following approach:

         The "Rule Book" - a legal agreement which clearly maps out the rights and responsibilities of the various parties
           in the event of retirement, death or disablement. It also determines the manner and timing of the transfer of the
           deceased party's equity as well as determining the terms of funding for the transfer.

           The concept of a "rule book" is fairly simple, it provides certainty at a time when relationships are placed under
           great strain. Inevitably, if a firm has not discussed these issues prior to a death or disablement occurring, mutual
           agreement becomes extremely difficult to achieve as the parties are now facing conflicting interests.

         Regular Valuation - The business should be valued on a regular basis so that the current valuation accurately
           represents fair market value. The Rule Book typically determines the methods to be used in valuing the
           business.

         Funding Mechanism - an arrangement that determines how the transfer is to be funded.