Companies of all sizes can benefit from a process of business succession planning. Overlooking the business succession planning process can lead to challenges and problems in the future. The support of an experienced lawyer is necessary for figuring out how to move forward with your estate planning process. 
Regardless of how long you’ve been working for the company, middle market companies may be more prepared when they expect for the leadership succession, but most will have to do significant work in order to attract the best talent for this transition period.
Middle market companies are those typically run by between 8-10 people and these must engage in the business succession planning process via developing people or attracting people who are in line for the leadership position. This requires input from across the entire organization.
Companies may look to invest in other areas over the years instead of building the necessary executive talent pool that is critical for the company to excel down the road.
Manufacturers, as one example, might choose to invest in inventory rather than upgrading the operations chief role, and a sales organization might think it’s a better investment for a controller than spending money on a CFO. Regardless of all of these complicated issues, having the experience of a knowledgeable business succession planning attorney in California is crucial.
