Succession Planning 

If you own a business, it may be your single most valuable asset. As such, planning the succession of your business can be a very significant part of your overall wealth management strategy.

Succession planning is a process—not an event—and should typically begin three to five years in advance of any anticipated change. A good plan integrates all aspects of your wealth strategy, including estates and trusts, investments, tax planning and philanthropic goals. Proper planning can ensure the ongoing stewardship of the business you’ve worked so hard to build and adds to the long-term financial security of your family.




Some of the things a business owner may contemplate as part of an exit strategy are:

  • What is my business worth?

  • Will I have enough to retire?

  • What is the impact on my family?

  • What is the impact on my business?

  • What is my best exit strategy?

  • What does my future look like?


Drawing on the expertise of specialists at BMO Private Wealth, our team can assist you with planning for retirement and the transition of management and ownership of your business, whether it’s to family, employees, or a third party.