Business Succession Planning

Plan your exit with clarity and confidence

Succession planning helps ensure your business continues smoothly when you decide to retire, sell, or transfer ownership. At Cox, Klugh & Company, we help business owners protect what they’ve built and create a clear, actionable plan for what comes next.

Understanding the value of a well-prepared transition

Preserve what you’ve built, plan for who comes next

Business succession planning prepares for the day when ownership changes — whether to a family member, partner, or outside buyer. It ensures continuity, protects your company’s value, and supports employees and clients through the transition.


Without a plan, even successful businesses can face confusion, disputes, or lost value when a change happens unexpectedly. We help you outline how and when to step away while maintaining stability and confidence for everyone involved.


At Cox, Klugh & Company, we guide owners through every stage — from valuation to exit strategy — helping make the process simple, structured, and aligned with your long-term goals.

Protecting your legacy and your community

Local insight for locally owned businesses

Many of the businesses we serve are closely held or family-run, where succession planning means more than numbers — it’s about continuity, care, and community. Whether you plan to transition to family, sell to a partner, or explore a third-party sale, we’ll help you clarify your path and timeline.


We work with business owners to evaluate options, identify successors, and plan both financially and emotionally for the next stage. The result is a smooth transition that honors your work and secures your company’s future.

How We Help You Prepare for What’s Next

A clear, structured process that adapts to your needs

Clarifying Your Goals

We start by understanding your long-term vision. Do you want to sell, retire gradually, or transfer ownership to family or employees? We help you define success for your transition.

Business Valuation & Preparation

We evaluate your company’s current value and identify ways to improve it before you transition. This could include cleaning up financials, reviewing cash flow, or identifying growth opportunities.

We guide business owners through a defined, step-by-step process to make succession planning simple and actionable.

Choosing a Succession Path

Together, we explore options like family transfers, management buyouts, or third-party sales. We outline the financial, tax, and personal implications of each to help you make an informed decision.

Implementation & Ongoing Support

Once a plan is in motion, we coordinate with your attorney, CPA, and other advisors to handle legal and financial details. We stay involved throughout the transition, ensuring everything goes according to plan.

Frequently Asked Questions About Succession Planning

Clear answers for business owners planning ahead

  • When should I start succession planning?

    It’s best to start planning five to ten years before you expect to step back. Early preparation allows time to improve the business’s value, prepare your successor, and manage tax implications. Even if retirement isn’t near, having a contingency plan in place ensures your business is protected from the unexpected.

  • What if I don’t have a family member to take over?

    That’s common for many small business owners. Options include selling to a trusted partner, training key employees, or finding an outside buyer. We’ll help you explore each option and create a plan that fits your goals and preserves the company’s continuity.

  • How does succession planning affect my retirement?

    A well-designed plan connects directly to your personal financial goals. We’ll determine how much income you’ll need from the business sale or transition and align it with your retirement strategy. By coordinating both plans, we help you exit with confidence and financial stability.

  • Do I need a lawyer for this process?

    Yes, legal guidance is essential for ownership transfers, buy-sell agreements, and estate documentation. We work closely with your attorney (or can recommend one) while managing the financial and planning aspects of the transition.

  • Can you help if I’m not ready to retire yet?

    Absolutely. Many of our clients start the process years before they plan to leave. We’ll help you build a flexible strategy that supports growth today while laying the groundwork for the future.