Building Your Transition Policy Statement

Hull, Sam
May 2010
Journal of Financial Planning;May/Jun2010 Practice Management, p18
Academic Journal
The article provides some points on how to build a transition policy statement. It mentions that transition policy statement is considered as one of the most critical elements in a business transition more than critical to legal documents, tax planning, or business valuation. However, a transition policy statement which is a well-thought-out can establish the rules of engagement that will define the core values that must be preserved, offer an early warning system, and keep the single financial transaction from wrecking. Meanwhile, the four steps that will create and maintain a transition policy include identifying the subjects and areas that are essentials for transition, developing core values statement, and updating policies to reflect major changes in the goals of the company.


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