Know the Law: Transitioning business leadership before retiring – The Union Leader

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Q: I am not ready to retire, but I would like to step away from the day-to-day management and operation of my company. What steps can I take to make the transition to the next generation of leadership smoother?

A: It makes sense to develop a succession plan well in advance of your retirement. Many business owners find the prospect of doing so overwhelming. However, making a deliberate plan for ownership and management succession can help ensure a smooth transition.

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