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Business Family Succession

Financial planning is widely accepted and encouraged as a process that assists individuals and families plan for a better, more stable and prosperous financial future. Often, these families may have a personal business they have worked in and developed into a growing economic entity.

Much planning and oversight goes into securing the long term development, growth and propagation of such an entity to ensure its survival for the well being of the owners, their offspring and families.

However, when the time comes for retirement of the owners, the type of financial planning needed to affect that outcome changes.

It is this very planning – that of securing the transition of a corporate entity from one focused solely on its growth and propagation to one whose growth and propagation must also fund the needed retirement income and change of ownership to the next generation that is the concern of the Business Family Succession Planning Division.

The ZLC Process

ZLC Process Diagram

Process for Business Family Succession Planning:

  1. Defining and formalizing the terms of engagement by way of a signed undertaking.
  2. A discovery phase which involves the gathering of all pertinent information and collection of all relevant documents necessary to identify your goals, needs and priorities including a comprehensive questionnaire. (This phase may also include discussion with family members and/or business associates that you designate appropriate for this purpose.)
  3. A solutions phase which analyzes and evaluates the information obtained during step #2 with respect to your goals, needs and priorities and to identify and craft those recommendations which satisfy the objectives agreed upon.
  4. An implementation phase during which we will work with your professional advisors to assist and ensure the recommendations acted upon are implemented according to your objectives and wishes.
  5. A monitoring phase, where we would meet in future years on a regular basis, to ensure the plan is still viable given your circumstances at the time of review.

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