Developing a succession plan process is a very involved process that includes: reorganization of equity, reviewing existing insurance policies, updating wills and trusts, drafting buy/sell agreements are drafted, implementing employee incentive plans, etc. The process involves the counsel of independent professionals working with our business attorneys for a collective plan. Business succession plans outline in detail the who, what, when, why, and how takes place upon the death, disability, retirement or withdrawal of a business owner.