Life after the family business is something that needs to be considered as early as possible and plans put in place, not just for the benefit of the exiting owner but the rest of the family, the next generation and the other stakeholders in the business too.
Working out plans can be emotional and time consuming but the effort is worthwhile as it can bring the family together, ensure that appropriate financial provisions are made and safeguard the main asset, the business too.
Plan early to make the most of those later life years....
The post-sale stage of selling your family business is equally as important as the others. Running a family business will have taken up all of your physical and emotional energy, nevertheless, you need to find time to contemplate what your post-business life looks like.