Continuation Strategies
(Development & Consulting)

Continuations strategies are a much-overlooked aspect that business owners must think about, especially if there is more than one principal owner of the business. Continuation strategies prepare for the unexpected personal circumstances that can seriously affect the business. This could include serious injury, illness, death or departure of a major partner in the company.

By having a continuation strategy in place, it will clearly outline what guidelines are to be followed both financially and operationally with the company. If a principal dies or leaves the business, it will outline whether the affected party’s share in the company would transfer to another member, the ownership team or to another person outside of the corporate structure. This agreement should also outline how the duties of the departed princiapl would be redistributed within the operational activities of the company.

This agreement between the ownership team gives the partners peace of mind that there is something in place to protect the owners financially in case the worst happens. Clearly documenting this information could help mitigate severe consequences.

TFN brings a unique approach to the realm of continuation strategies. Rather you are looking to start from scratch or want to revamp your original operating agreement, TFN can help determine the right course of action. Fill out the contact form below or reach us directly at 888-609-1854 for more information and to schedule a no-obligation preliminary business analysis.

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