CPAs are often working longer than before due to the economy, longer life expectancy and (possibly) high job satisfaction. It is not enough to assume that there will be a next generation of eager, younger CPAs standing in line for the opportunity to take over your practice and (hopefully) fund your long-awaited retirement when and how you want. Careful planning is necessary in order to have a practice that has value and is an attractive investment, to identify the right successor for your clients, to develop an exit strategy that fits your personal goals, and to implement a long-term succession strategy that is practical for all parties. But isn’t that what we have been telling our clients to do? Now it is time to explore the unique aspects of succession planning for us.
DESIGNED FOR
Practitioners whose clients include owners of closely held businesses.
BENEFITS
- Developing a succession plan for your practice
- Exploring various exit strategies
- Balancing what you want with what you should reasonably expect
HIGHLIGHTS
- Identifying the challenge
- Implementing strategies and options and alternatives
- Including trusted advisors
- Incorporating proper financial planning with emotional needs
- Setting proper expectations for timing and economic realization
COURSE LEVEL
Advanced
PREREQUISITES
None
ADVANCE PREPARATION
None