Is it too early for transition planning? Have you every said to yourself, “I don’t have to worry about that until I’m ready to retire” – truth is, the most successful transition plan will allow sufficient time to put many key components in place long before retirement approaches.
Simply put, transition planning is goal setting for your professional life, it is never too late or too early to start. In the same way, you would not wait to purchase life insurance until you become sick, transition planning should be at the front of mind for any facet of your professional life.
Some common questions we hear all of the time are:
- When should I start planning?
- How do I know I’m ready to transition?
- Who do I need to help me transition?
- How do I transition my team?
- What should I do to the practice?
- Do I need to update anything in my practice?
- Is a formal business transition plan necessary?
- Why shouldn’t I just handle the transition myself?
- What is the time frame to work out the tax planning aspects?
If you have these questions or others, we have accurate answers. This can be a very complex and personally challenging process, and it can be very difficult to do it alone and get all the right pieces in place. At Avail we specialize in personalized transition planning based on your unique planning needs. We will guide you every step of the way to ensure you have the best plan in place while minimizing your stress through the process. With the possibility of legal, tax or risk management issues, it is imperative to hire professionals to guide you through this. Give us a call and we can start the confidential conversation, no strings attached.