Navigating a Succession Plan That is Impacted by the 5 Ds

It is imperative that business owners consistently think about being ready for any moment. Unfortunately, this includes having plans in place for unforeseen moments. In this case study, a family is faced with the devastating and inevitable uncertainties of running a family business and experiencing the death of a critical employee. As this family begins the planning process, the advisor can determine the root of issues and the true vision of where the family sees this business going in the future. As a guide, we felt that this case study shed insightful light on dealing with a family business amid uncertainty and grief. Additionally, we found the case study empowering in helping us all understand the power of planning around a common purpose.