Business reorganization is often a key, sometimes a subtle aspect, of a successful succession planning process. In some cases, business reorganization comes first, maybe the death of one of the principles for example, that actually prompts the first very real discussions about the need for succession planning. Maybe it’s even in the context of “so we won’t have to go through this again” or to tamp out fires created by the aftermath of some other unforeseen event. Business reorganization, in the context of succession planning – especially in a family business, maybe the key motivating issue is attitude, that of the successor generation, or the senior generation’s eagerness to revamp the business’s legal structure for their own reasons.
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