Companies should write down their succession planning and also take into consideration estate planning, valuation and wealth management.

How to Succeed at Succession Planning


In this episode of “The Bottom Line,” EisnerAmper’s private business services manager Tim Schuster tackles the always popular—and sometimes contentious—issue of succession planning. Tim covers the challenges and underlying financial issues and gives his prescription for a healthy business transition.


Dave Plaskow: Hello and welcome to The Bottom Line. This podcast examines the everyday business and finance issues faced by closely held and private businesses. We hope to provide you with news you can use in what we like to think of as a “jargon-free” zone. I’m your host Dave Plaskow and with us again is Tim Schuster, a manager in EisnerAmper’s Private Business Services Group. Well Tim, we’ve made it to our second episode and they haven’t thrown us off the air yet, so things are looking pretty good. In the debut episode we essentially talked about the formation of a business. Here we’re looking at the other end - succession planning, which is always a hot topic.
Tim Schuster: Dave, it’s good to be back.

More Podcasts in This Series
Creating a Quarterly Planning Calendar

In this episode of The Bottom Line, EisnerAmper Private Business Manager Tim Schuster discusses developing a quarterly planning calendar, including budget, tax planning and speaking with your trusted advisor. Review these concepts monthly from an accounting perspective.

The Importance of Having an Emergency Fund

In the wake of the government shutdown, Tim Schuster offers tips on creating an emergency fund. To avoid living paycheck to paycheck, Tim suggests putting money into a separate savings account, as well as a portion of any windfalls. Emergency funds should include medical expenses.

Why the Sandwich Generation Needs to Talk Finances

Tim Schuster from EisnerAmper’s Private Business Services Group talks about the family issues and financial burdens for members of the sandwich generation - those individuals who are responsible for raising their children as well as caring for aging parents.

Mr. Schuster is a Manager providing tax compliance services to individual filers, as well as assistance on tax returns for companies in the manufacturing and real estate industries.

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