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Succession Planning Attorney

Working closely with management teams and leadership to deliver a plan to build stronger teams and help businesses grow with our comprehensive legal services.

Most business owners do not think enough about business succession planning or think they are too young to worry about it, so they never address the issue.

However, succession planning is essential to ensure your business continues to run smoothly when a CEO or key manager becomes incapacitated, resigns, or dies.

Succession planning for all key management positions needs to be established. The goal is to have someone in place who is qualified to take over as CEO through the normal course of business or in an emergency situation. This should also be established for any critical roles when or if the need arises.

For each key leadership role, including the CEO, the CEO's direct reports, and other key positions, the board or committee should establish a succession plan.

Regularly evaluate the senior leadership team's strengths and weaknesses and establish individual plans for professional development designed to prepare these executives for advancement. 

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Succession Planning FAQs

Meet Your Succession Planning Legal Team

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Joe Whitcomb

Senior Attorney

Joe Whitcomb is the founder and president of Whitcomb Selinsky, PC. In addition, he manages the firm and heads up the Government Procurement and International Business Transactions practice areas.

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Succession Planning Resources

3 min read

Clawback Provisions and How They Might Impact Your Company

What is a Clawback Provision?

Clawback provisions are clauses that specify a set of factors or situations in which...

5 min read

Directors Fiduciary Duties to Financially Troubled Corporations

Introduction

As you may already know, directors always owe a fiduciary duty to the corporation for which they are...

12 min read

The Most Common Business Valuation Mistakes

Most owners have an idea what they think their business is worth, even if they aren’t planning on selling it. Because...